Statistical sampling combines the theory of probability and statistical inference with audit judgment and experience.

Question

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Statistical sampling involves using probability theory and statistical inference methods to make inferences about a population based on a sample. However, audit judgment and experience are also important in deciding how to select and analyze the sample, as well as in interpreting the results. Therefore, statistical sampling combines both probabilistic and judgmental approaches to auditing.

Statistical Sampling Combines the Theory of Probability and Statistical Inference