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On approximate Monetary Unit Sampling

  • Carrizosa, Emilio
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    Monetary Unit Sampling (MUS), also known as Dollar-Unit Sampling, is a popular sampling strategy in Auditing, in which all units are to be randomly selected with probabilities proportional to the book value. However, if units sizes have very large variability, no vector of probabilities exists fulfilling the requirement that all probabilities are proportional to the associated book values. In this note we propose a Mathematical Optimization approach to address this issue. An optimization program is posed, structural properties of the optimal solution are analyzed, and an algorithm yielding the optimal solution in time and space linear to the number of population units is given.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0377221711008654
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    Article provided by Elsevier in its journal European Journal of Operational Research.

    Volume (Year): 217 (2012)
    Issue (Month): 2 ()
    Pages: 479-482

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    Handle: RePEc:eee:ejores:v:217:y:2012:i:2:p:479-482
    Contact details of provider: Web page: http://www.elsevier.com/locate/eor

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    1. Carrizosa, Emilio, 2010. "Unequal probability sampling from a finite population: A multicriteria approach," European Journal of Operational Research, Elsevier, vol. 201(2), pages 500-504, March.
    2. S. Illeris & G. Akehurst, 2002. "Introduction," The Service Industries Journal, Taylor & Francis Journals, vol. 22(1), pages 1-3, January.
    3. repec:spr:compst:v:64:y:2006:i:2:p:271-284 is not listed on IDEAS
    4. R. Blanquero & E. Carrizosa & E. Conde, 2006. "Inferring Efficient Weights from Pairwise Comparison Matrices," Mathematical Methods of Operations Research, Springer, vol. 64(2), pages 271-284, October.
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