Given: Population- 500 accounts Sample- 100 accounts Book Value of Sample- $20,000 Population Book Value- $75,000 Audit Value of Sample- $18,000 Tolerable error- $8,000 Using difference estimation, the projected population value is   a. $83,000 b. $90,000 c. $67,000 d. $65,000 e. $85,000

Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN:9781305627734
Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Chapter2: Descriptive Statistics
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Problem 4P: A partial relative frequency distribution is given. a. What is the relative frequency of class D? b....
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Given:

Population- 500 accounts

Sample- 100 accounts

Book Value of Sample- $20,000

Population Book Value- $75,000

Audit Value of Sample- $18,000

Tolerable error- $8,000

Using difference estimation, the projected population value is


 

a.

$83,000

b.

$90,000

c.

$67,000

d.
$65,000
e.

$85,000

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