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Excel application. In this exercise, we'll use Excel's sampling function to create a random sample. Random samples of transactions are often used in financial statement
Excel application. In this exercise, we'll use Excel's "sampling" function to create a random sample. Random samples of transactions are often used in financial statement audits.
- Access the Excel data file in the 3 February 2014 post on my AIS blog. An excerpt of the file appears below:
Transaction # Transaction Amount
- $645
- 350
- 60
- 32
- 333
- Use Excels sampling function (part of the data analysis tools) to select a sample of five transaction numbers. Sort the five transaction numbers from smallest to largest.
- Use Excels VLOOKUP function to find the associated transaction amounts. Heres an example of how it might look; your transaction numbers will likely be different.
Transaction # Transaction Amount
11 $523
22 464
28 370
29 327
48 361
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