The achieved upper deviation limit is 7 percent and the risk of assessing control risk too low
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The achieved upper deviation limit is 7 percent and the risk of assessing control risk too low is 5 percent. How should the internal auditor interpret this attribute sampling outcome?
a. There is a 7 percent chance that the deviation rate in the population is less than or equal to 5 percent.
b. There is a 5 percent chance that the deviation rate in the population is less than 7 percent.
c. There is a 5 percent chance that the deviation rate in the population exceeds 7 percent.
d. There is a 95 percent chance that the deviation rate in the population equals 7 percent.
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The correct answer is b There is a 5 percent chance that the deviation rate in the population ...View the full answer
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Related Book For 
Internal Auditing Assurance & Advisory Services
ISBN: 9780894139871
4th Edition
Authors: Urton L. Anderson, Michael J. Head, Sridhar Ramamoorti, Cris Riddle, Mark Salamasick, Paul J. Sobel
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