Monetary Sampling

talebi

Forums

Hi all,
That would be great if you help me in monetary sampling. In ACL, I could ask for (for instance 25) samples and I did it very easily. We sould just print the number of samples we need and then print the summation of  Dollar amount.   I do not know how to do it in IDEA. For instance, how can I extract just 25 (example) monetary samples out of a population?

Brian Element Thu, 11/25/2021 - 07:57

Hi talebi,

When you extracted the 25 items where they based on the transactions or was the random sample based on a dollar amount.  When you say 25 items it sounds more like a random sample then an actual DUS sample.  Was ACL giving you the dollar value to select?

talebi Thu, 11/25/2021 - 11:19

25 samples based on a transaxtion column. I need to pick 25 random samples in the monetary sampling. I attached a screen shot from ACL. I need to do that in IDEA as well

mkeiffer33 Fri, 11/26/2021 - 17:09

Hi Talebi,
I have both ACL and IDEA and unfortunately, it looks like IDEA does not offer a random sample option, based on the monetary unit or dollar unit value.  It looksl like the only random sample option that IDEA offers is just a random sample based on the records, not the dollar value.  I ran two separate random sample tests in ACL, one using the record value, and one using the monetary unit value.  The random sample in ACL using the MUS value did result in bigger transaction amounts being picked.
However, in IDEA, to use Monetary Unit Sampling or Dollar Unit Sampling, you must supply additional sampling parameters such as the Confidence Level, Expected Errors, and Tolerable Errors in order for IDEA to calculate the intervals in which to start picking the sample.
There does not appear to Dollar Unit Sampling or Monetary Unit Sampling, using the random selection approach the way ACL has it set up.
Mike

talebi Mon, 11/29/2021 - 11:30

Thank you very much. I believe if the IDEA does not have this option like ACL, the provider must add this option to the software. Just a quick question. If we do monetary sampling in IDEA and get, for instance 300 records by IDEA, can we get 21 random sample out of those 300 ones?

talebi Mon, 02/14/2022 - 11:29

I personally get used to the IDEA and I am no longer using Python, Excel or ACL for my work except for random monetary sampling just like we discussed above. That makes me to export the data from IDEA into excel file and then import the exported file into the ACL and then make random monetry sampling.
For me, there are three issues here:
1- It is really frustrating to do this process.
2- Our ACL license will be axpire soon.
3- We cannot pull the scripts logs from projects overview in IDEA (because it is related to the ministries, we have to present our scripts log as a proof).
I recently installed IDEA 12 on my computer and I hope IDEA add this task to the next version of IDEA.
 
Thanks,