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
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
Section: Chapter Questions
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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