What are the differences between attribute sampling and variable sampling? Which of the sampling techniques would you prefer to use and why?
Variable sampling is used to reach a conclusion about a population in terms of an amount. It is commonly used to determine the currency size of a population or to determine whether the currency size is correct. That means it is designed to predict the value of a given variable for a population. The variables under Audit are typically the total population or the arithmetic mean. An example can be a CPA's estimation of the cost of a group of inventory components. Initially, the accountant may sample a limited ...
The solution explains differences between attribute sampling and variable sampling.