SAMPLING ERROR Definition

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SAMPLING ERROR is the fact that unless 100% of a population is examined, there is some chance the sample results will mislead the examiner. This risk is sampling error.
The larger the sample, the less chance of sampling error and the greater the
reliability of the results.

Learn new Accounting Terms

ASRB is Accounting Standards Review Board.

ECONOMIC RESOURCES is the profitable extraction or production, under defined investment assumptions, of returns that are analytically demonstrable or can be assumed with reasonable certainty.

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