ABSTRACT
This chapter examines the differences between the types of data and a given set of data as the standard benchmark in terms of central tendency, variation, and shape of a curve. In conducting data analysis, the auditor must be in a position to clearly define the population he or she is dealing with. The population distribution will be made up of all of the individual classes or values of variables upon which the auditor will express an opinion, and the distribution is a statement regarding the frequency with which the units may be observed within each of those classes. Standard deviation is a measurement that summarizes the amount by which every value within the data set, either population or sample, varies from the mean. It allows the auditor to determine how tightly the values are grouped around the mean value taking into consideration every variable in the data set.
