[nalratoss]

Okay. So in the sampling chapter my Gleim book describes confidence level and precision as follows:

Confidence level: also called reliability level, is the percentage of times the sample should adequately reflect the population. It is the complement of the applicable sampling risk factor.

Precision (allowance for sampling risk): is a measure of how closely the sample represents the population.

Okay but what’s the difference here? Represents vs reflect?

[cpApex Predator]

Sampling has been tough for me to understand fully, so I turned to my auditing book and it helped. Precision relates to the numeric distance from the estimated population, whereas the confidence level is the likelihood of achieving a given level of precision. So, the precision could be an amount like 1.5 yards, whereas the confidence level is a probably like, a reliability or confidence level of 90 percent.

[Author]

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