statistical sampling

The selection of a *sample of data from a *population using objective, statistical methodologies. *Probability theory and *random selection techniques are commonly used in statistical sampling, and properly designed statistical samples identify likely margins of error and *sample risk. Auditors often rely on statistical sampling techniques to reach conclusions about a larger population of items. See also judgmental sampling and *stratified sampling.

Auditor's dictionary. 2014.

Look at other dictionaries:

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