Based on an examination of past records of a corporations account balances, an auditor finds that 15%
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Based on an examination of past records of a corporation’s account balances, an auditor finds that 15% have contained errors. Of those balances in error, 60% were regarded as unusual values based on historical figures. Of all the account balances, 20% were unusual values. If the figure for a particular balance appears unusual on this basis, what is the probability that it is in error?
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Related Book For
Statistics For Business And Economics
ISBN: 9780273767060
8th Global Edition
Authors: Paul Newbold, Mr William Carlson, Ms Betty Thorne
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