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Attribute sampling and Variable sampling

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What are the differences between attribute sampling and variable sampling? Which of the sampling techniques would you prefer to use and why?

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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 ...

Solution Summary

The solution explains differences between attribute sampling and variable sampling.

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