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Examples of Probabilistic Sampling Procedures

# Examples of Probabilistic Sampling Procedures - 1112 67 =...

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Examples of Probabilistic Sampling Procedures: Test of Transaction (existence) Attribute: trace data (qty, price, customer, etc.) from sales invoices/sales journal entries back to shipping document data Population: all invoices Sample Unit: individual invoice Random Sample: Input range of invoice numbers from throughout year into random number generator audit software: say, 1112 to 4724 Input sample size: say, 30 Computer randomly selects 30 invoice numbers: 1241, 1325, 1568, 1745, … and so on till you get 30 invoices for your sample. Completely random selection. Systematic Sampling: 4724 – 1112 / 30 = 121 = range. Computer randomly selects one number between 1 and 121, say 67.

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Unformatted text preview: 1112 + 67 = 1179 (first invoice selection) +121 1300 (second selection) +121 1421 (third selection) and so on till you get 30 invoices for your sample. Assures sample is dispersed throughout population. Probability Proportional to Size: Arrange the population of invoices as follows (need to download client file) Total Invoice amount Invoice Number 100 100 1112 145 45 1113 250 105 1114 550 300 1115 to 1,234,534 400 4722 1,234,554 20 4723 1,235,554 1000 4724 Then have random number generator select 30 numbers between 0 – 1,235,554 Say, we get numbers: 271, and 1,234,724 – then two of our invoice selections are: 1115 and 4724. Assures higher probability of selecting larger items....
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