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Which is true about confidence level

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Reference no: EM132699862

Question 1. Which statement is true?

Option 1: Attribute sampling is useful for determing the accuracy of accounts receivable

Option 2: An 8% tolerable rate is generally considered an acceptable rate.

Option 3: Attribute sampling is useful for determing internal control deviations

Option 4: If the sampling plan is applied correctly there is no sampling risk

Question 2. Which is true about confidence level?

Option 1: The confidence level and sampling risk must equal 100%

Option 2: Sampling risk applies to only to variables sampling

Option 3: If the sampling risk is12% then the confidence level must be less greater than 90%

Option 4: Sampling risk is normally higher than confidence level

Question 3. If the estimated error is 14% what can be said?

Option 1: The tolerable rate has to be higher in order to accept the deviation rate as acceptable

Option 2: The tolerable error has to be less than 14%

Option 3: The tolerable error has to equal 14%

Option 4: Nothing can be said with certainty

Reference no: EM132699862

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