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What is Audit Sampling Size and Confidence Factors about?

For large populations, the sample size formula uses the standard normal distribution value (Z), standard deviation (σ), and desired margin of error (E). Acceptable evidence levels are roughly 68% (1 sigma), 80%, and 90-95% (2 sigma). For small populations, a good maximum sample size is usually 10% but should not exceed 1000. Factors like confidence level, expected variance, desired precision determine sample size. Audit sampling involves both statistical and non-statistical methods. Resources on audit s

Author

johnson lee

Language

EN