SELECTING EQUAL PROBABILITY SAMPLES

This exercise provides exposure to completing an Excel worksheet to select a random sample, including also
establishing a correspondence between the random numbers and the population item document numbers.
This is based on the sales/AR system covered in class.
Your client has pre-numbered sales invoices. However, several invoice books have gone missing, so that there is a gap in the numerical sequence.

The last invoice issued during the year is 54283
The first invoice issued during the year is 33192

The missing invoice books have the following invoice numbers: 38001 to 42000

REQUIRED:
Set up and select a simple random sample of 20 sales orders from an orders population using the random number generator.

NOTE: There are at least two ways that this exercise can be set up. Both were covered conceptually in the topic dealing
with the population, frame and sampling unit. So, think about what you are doing.

Duplicate selections, if any, are not eliminated. Do not be concerned with them.

All calculations and formulas are to be in the worksheet cells.

The sample results must be displayed in columnar format, so that an auditor can perform the actual selection of the items identified in each sample.

For example, a simple random sample from a population of payroll checks might be displayed as:

RANDOM ITEM CHECK
FRACTION NUMBER NUMBER
0.3143877 763 21427
. . .
. . .
. . .

The following Excel functions will be useful:
IF
ROUNDUP
ROUNDDOWN
If you are unfamiliar with them, they can be found in the FORMULAS tab.