Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A company has 30000 transactions related to purchasing raw materials. the internal auditor selects s random sample of 1% for testing. in the dample, the
A company has 30000 transactions related to purchasing raw materials. the internal auditor selects s random sample of 1% for testing. in the dample, the internal auditor finds 2 errors where employees dud not get purchases approved before buying raw materials. what is the best estimate for how many errors are in the 30,000 transactions of the company?
A. 2
B. 200
C. 300
D. None of these
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started