Mixing
Sampling size estimate
$begingroup$
I am interested in finding the sample size of a population of transactions in order to get an interesting conclusion on the population. For the estimate of the sample size $n$ in audit I found the following formula
$n=frac{Ncdot zcdotsigma}{Acdot BV}$
where $N$ is the total population number, $sigma$ is the estimated error standard deviation, $BV$ the monetary amount of the analyzed transactions, $A$ margin of error, $z$ from the normal distribution depending on the desired confidence level.
It is interesting since this formula is considering both the population size and the total amount of money.
Is it correct that I am using a normal approximation from which the formula is derived? If so, then this should imply that my population size is big to guarantee normality, right? Say, up 1000 total transactions?
Thank you for any advice
probability statistics probability-distributions sampling
asked Jan 24 at 19:12
sky90sky90
820516
$endgroup$
add a comment |
$begingroup$
I am interested in finding the sample size of a population of transactions in order to get an interesting conclusion on the population. For the estimate of the sample size $n$ in audit I found the following formula
$n=frac{Ncdot zcdotsigma}{Acdot BV}$
where $N$ is the total population number, $sigma$ is the estimated error standard deviation, $BV$ the monetary amount of the analyzed transactions, $A$ margin of error, $z$ from the normal distribution depending on the desired confidence level.
It is interesting since this formula is considering both the population size and the total amount of money.
Is it correct that I am using a normal approximation from which the formula is derived? If so, then this should imply that my population size is big to guarantee normality, right? Say, up 1000 total transactions?
Thank you for any advice
probability statistics probability-distributions sampling
asked Jan 24 at 19:12
sky90sky90
820516
$endgroup$
add a comment |
$begingroup$
I am interested in finding the sample size of a population of transactions in order to get an interesting conclusion on the population. For the estimate of the sample size $n$ in audit I found the following formula
$n=frac{Ncdot zcdotsigma}{Acdot BV}$
where $N$ is the total population number, $sigma$ is the estimated error standard deviation, $BV$ the monetary amount of the analyzed transactions, $A$ margin of error, $z$ from the normal distribution depending on the desired confidence level.
It is interesting since this formula is considering both the population size and the total amount of money.
Is it correct that I am using a normal approximation from which the formula is derived? If so, then this should imply that my population size is big to guarantee normality, right? Say, up 1000 total transactions?
Thank you for any advice
probability statistics probability-distributions sampling
asked Jan 24 at 19:12
sky90sky90
820516
$endgroup$
I am interested in finding the sample size of a population of transactions in order to get an interesting conclusion on the population. For the estimate of the sample size $n$ in audit I found the following formula
$n=frac{Ncdot zcdotsigma}{Acdot BV}$
where $N$ is the total population number, $sigma$ is the estimated error standard deviation, $BV$ the monetary amount of the analyzed transactions, $A$ margin of error, $z$ from the normal distribution depending on the desired confidence level.
It is interesting since this formula is considering both the population size and the total amount of money.
Is it correct that I am using a normal approximation from which the formula is derived? If so, then this should imply that my population size is big to guarantee normality, right? Say, up 1000 total transactions?
Thank you for any advice
probability statistics probability-distributions sampling
probability statistics probability-distributions sampling
asked Jan 24 at 19:12
sky90sky90
820516
asked Jan 24 at 19:12
sky90sky90
820516
asked Jan 24 at 19:12
sky90sky90
820516
asked Jan 24 at 19:12
sky90sky90
820516
asked Jan 24 at 19:12
sky90sky90
820516
820516
add a comment |
add a comment |
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