If a sample of 100 items indicates a deviation rate of 3 percent, should the auditors conclude

Question:

If a sample of 100 items indicates a deviation rate of 3 percent, should the auditors conclude that the entire population also has approximately a 3 percent deviation rate?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Principles of Auditing and Other Assurance Services

ISBN: 978-0078025617

19th edition

Authors: Ray Whittington, Kurt Pany

See More Books

Question Posted: Jul 17, 2015 02:10 AM

See More Questions

A sample of 100 students is to be taken to determine which of two brands of beer is preferred in a blind taste test. Suppose that, in the whole population of students, 50% would prefer brand A. a....
A marketing research company showed a sample of 100 male customers a new type of power tool. Each customer was shown the tool and given the chance to use it for several minutes. Each customer was...
A Roper poll used a sample of 100 randomly selected car owners. Within the sample, the mean time of ownership for a single car was 7.01 years with a standard deviation of 3.74 years. Test the claim...
Find the requested numbers(s) in Problems 1116. Classify the equation as true, false, or open; and if it is open tell whether it is a conditional, identity, or contradiction. a. Three times the sum...
Using the data in ncvs 2000.dat, fit a logistic regression model predicting whether a person is a victim of violent crime from age and sex. Is a quadratic term needed for age?
A 60.0-cm, uniform, 50.0-N shelf is supported horizontally by two vertical wires attached to the sloping ceiling (Fig. 11.23). A very small 25.0-N tool is placed on the shelf midway between the...
What is marketing research?
Hardy Companys cost of goods sold is consistently 60% of sales. The company plans to carry ending merchandise inventory for each month equal to 20% of the next months budgeted cost of good sold. All...
retained earnings statement Below is the Retained Earnings account for the year 2025 for Nash Corp
Refer to the data in Exercise 6-1 for Ida Sidha Karya Company. The absorption costing income statement prepared by the company's accountant for last year appears below: Sales . . . . . . . . . . . ....
When performing a dual-purpose test, how does the auditor arrive at the required sample?
The mean of the audited values in a sample is $20. The accounts in that sample have a mean book value of $21, and the entire population of 10,000 accounts has an average book value of $19. Using...
Assuming that Allied-Lyons was relying on a straddle strategy (refer to box 3.2 for background information), explain graphically and numerically under what conditions Allied-Lyons could have...
Two firms are bidding for a $100 million contract in an all-pay auction. The bidding continues over many rounds, and each firm must incur a non-recoverable cost equal to 1% of the total value of the...
Illustrate the different steps required for the insertion of 58 followed by the deletion of 40 in the following AVL tree. 55 40 50 65 60 60 57 70 70
3 undamaged, the suit is returned to the customer. If either (or both) of the parts is (are) damaged, the suit goes to customer relations (Server 5). Assume that all travel times are negligible (0),...
Saginaw Incorporated completed its first year of operations with a pretax loss of $677,500. The tax return showed a net operating of $826,500, which the company will carry forward. The $149,000...
General Average Problem You've just learned about the concept of general average. Try applying it to the following hypothetical: A cruise ship docks close to Rome for three days, giving the...
In a study conducted at the University of Colorado, J. Ruttenber and colleagues studied people who had worked at the Rocky Flats nuclear weapons production facility near Denver, Colorado. They...
Define cultural intelligence. Cite the books or journal articles you found in Capella's library. Explain why cultural intelligence is important for HR practitioners and other organizational managers.
Consider the photodiode circuit shown in Figure 2.44. Assume the quantum efficiency is 1 . A photocurrent of $0.6 \mathrm{~mA}$ is required for an incident photon flux of \(\Phi=10^{17}...
What is the difference between joint and several liability and proportionate liability?
What is the difference between joint and several liability and proportionate liability?
What new requirement was enacted in the Securities Litigation Uniform Standards Act that affected class action lawsuits?
Exercise 11-4 Profit allocation in a partnership LO3 Dallas and Weiss formed a partnership to manage rental properties, by Investing $156,000 and $234,000, respectively. During its first year, the...
Total 30 Marks b. Mr. Luis Rodriguez is the financial manager of Hull pic, a UK company which is located in the east of London Hull Plc has the following inventory transactions: Day 1 Opening...
***When solving for solutions, can you please make sure to round properly (round each number at the end). My answers are way off without following the directions for rounding each value*** Thanks!...

If a sample of 100 items indicates a deviation rate of 3 percent, should the auditors conclude

Question:

Step by Step Answer:

Yes the auditors can conclude that the entire population has nearly 3 percent deviation rate H...View the full answer

Principles of Auditing and Other Assurance Services

Students also viewed these Auditing questions