Question
8-26 L06 Practice calculating the sample size in a MUS sample using Exhibit 8.7, with the following combinations of inputs. Risk of Incorrect Acceptance Ratio
8-26 L06 Practice calculating the sample size in a MUS sample using Exhibit 8.7, with the following combinations of inputs. Risk of Incorrect Acceptance Ratio of Expected to Tolerable Misstatement a. 5% 0.20 b. 10% 0.20 Ratio of Tolerable Misstatement to Population (%) 50% 30% Sample Size C 15% 0.30 d. 20% e. 25% 0.30 0.40 f 30% 0.40 g. h. 35% 0.50 8% 5% 4% 3% 2% 50% 0.50 1%
8-27 L06 Calculate the sampling interval for cases (a) through (h) in 8-26, assuming a population size of $8,500,000. Recall that sampling interval = population size = sample size. Round the value of the interval down to the nearest $1,000 or $10,000 to ensure that the sample size is adequate and is easy for the auditor to select the sample.
Hi, I need help with Question 8-27. It uses the numbers / information from Question 8-26.
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8-26 LO 6 Practice calculating the sample size in a MUS sample using Exhibit 8.7, with the following combinations of inputs. Sample Size a. b. C. Risk of Incorrect Acceptance 59 10% 15% 20% 25% 30% 35% 50% Ratio of Expected Ratio of Tolerable to Tolerable Misstatement to Misstatement Population (%) 0.20 50% 0.20 30% 0.30 8% 0.30 5% 0.40 4% 0.40 3% 0.50 2% 0.50 1% d. e. f. g. h. 8-27 LO 6 Calculate the sampling interval for cases (a) through (h) in 8-26, assuming a population size of $8,500,000. Recall that sampling interval = population size - sample size. Round the value of the interval down to the nearest $1,000 or $10,000 to ensure that the sample size is adequate and is easy for the auditor to select the sample. naStep by Step Solution
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