An auditor randomly samples 20 accounts receivable from among the 500 such accounts of a
Chapter 8, Problem 8.32(choose chapter or problem)
An auditor randomly samples 20 accounts receivable from among the 500 such accounts of a clients firm. The auditor lists the amount of each account and checks to see if the underlying documents comply with stated procedures. The data are recorded in the accompanying table (amounts are in dollars, Y = yes, and N = no). Account Amount Compliance Account Amount Compliance 1 278 Y 11 188 N 2 192 Y 12 212 N 3 310 Y 13 92 Y 4 94 N 14 56 Y 5 86 Y 15 142 Y 6 335 Y 16 37 Y 7 310 N 17 186 N 8 290 Y 18 221 Y 9 221 Y 19 219 N 10 168 Y 20 305 Y Estimate the total accounts receivable for the 500 accounts of the firm and place a bound on the error of estimation. Do you think that the average account receivable for the firm exceeds $250? Why?
Unfortunately, we don't have that question answered yet. But you can get it answered in just 5 hours by Logging in or Becoming a subscriber.
Becoming a subscriber
Or look for another answer