[Anonymous]

AUD/Chapter5.1: Audit Sampling:

An audit partner is developing an office training program to familiarize his professional staff with statistical decision models applicable to the audit of dollar value balances. He wishes to demonstrate the relationship of sample sizes to population size and variability and the auditor’s specifications as to tolerable misstatement and risk of incorrect acceptance. The partner prepared the following table to show comparative population characteristics and audit specifications of two populations.

—-There would be a table here with “Characteristics of Population 1 Relative to Population 2” and in the next box “Audit Specifications as to a Sample from Population 1 Relative to a Sample from Population 2” Along with boxes below horizontally saying size, variability, specified tolerable misstatement, and specified rick of incorrect acceptance. With about 5 cases going down vertically

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You are to indicate for the specified case from the above table the required sample size to be selected from population 1 relative to the sample from population 2.

In case 2 the required sample size from population 1 is:…..

I just finished this chapter and this is the first question I got hit with and I am so friggin confused by it.