An important statistic to consider when using a statistical sampling audit plan is the population variability.The population variability is measured by the
A)Sample mean.
B)Standard deviation.
C)Median.
D)Estimated population total minus the actual population total.

Question

Quizplus · Accepted Answer

The population variability is measured by the standard deviation, which describes how spread out the data is in a population. It is important to consider this when using a statistical sampling audit plan to ensure that the sample accurately represents the characteristics of the population. Therefore, option B is the best choice for this question.

An Important Statistic to Consider When Using a Statistical Sampling