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AUDITModuleEp53

# AUDITModuleEp53 - Module E Problem 53 Sampling risk...

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Module E Problem 53 Sampling risk – possibility that the decision made based on the sample differs from the conclusion that would have been made if the entire population had been examined Non-sampling risk – represents probability that an incorrect conclusion will be reached due to reasons unrelated to the nature of the sample 1. You are estimating the average net income of passengers on a particular airline flight. You randomly select three rows of seats (18 passengers) and calculate the average income of those passengers. Sampling risk. The procedure and objective contain matching factors and they relate to each other. It is possible that the conclusion would be different if the entire population, or a completely different set of 18 passengers, had been examined. The procedure involved random selection of passengers, as opposed to passengers with particular factors (example: a particular range of average net income).

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