Which of the following statements is most correct with concerning the quantification of sampling risk?
A)Sampling risk cannot be quantified.
B)Sampling risk can be quantified only when nonprobabilistic selection techniques are used to select the sample.
C)Sampling risk can be quantified only when probabilistic selection techniques are used to select the sample.
D)None of the above is correct.

Question

Quizplus · Accepted Answer

Sampling risk can be quantified only when probabilistic selection techniques are used to select the sample. Probabilistic sampling involves randomly selecting items from the population, which allows for statistical analysis to determine the level of sampling risk. Nonprobabilistic sampling, on the other hand, involves selecting items based on the auditor's judgment or other nonstatistical criteria, making it difficult to quantify sampling risk.

Which of the Following Statements Is Most Correct with Concerning