PROBABILITY PROPORTIONAL TO SIZE SAMPLING (PPS) Definition

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PROBABILITY PROPORTIONAL TO SIZE SAMPLING (PPS) is a sampling plan that bases the likelihood of selecting a particular account on the relative size of that account, so larger accounts have a greater probability of being selected for the sample than smaller accounts. Also known as dollar unit.

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CURRENT COST is the cost which would be incurred for replacement of an asset.

CUMULATIVE EARNINGS is the sum of all earnings over the time periods in question.

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