Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

For the following three control attributes, you want to be 90 percent confident that the population deviation rate does not exceed 7.5 percent. Attribute 1-The

For the following three control attributes, you want to be 90 percent confident that the population deviation rate does not exceed 7.5 percent.

Attribute 1-The purchase order was approved (purchasing department stamp provides evidence)

Attribute 2-The purchase order, receiving report, and vendor invoice are included in each voucher packet

Attribute 3-The accounts payable department compared product and quantities across the three documents (initials by an accounts payable clerk and auditor reperformance provide evidence)

You tested a sample of 52 voucher packages and discovered the following deviations:

  • Attribute 1: 2 deviations
  • Attribute 2: 1 deviation
  • Attribute 3: 0 deviations

Evaluate the results of your testing by:

  1. In the Analysis tab, Sample group, choose Attribute to open the Attribute Sampling window.
  2. Click on the Sample Evaluation tab
  3. Enter the applicable parameters (e.g., % Desired confidence level is 90 and Sample size is 52, Number of deviations in sample listed above). Enter 1000 for the population size.
  4. Click Compute

What is the 1-Sided Upper Limit for each attribute? (Note: Ignore 2-Sided Limits when answering this question)

Note: Round your "1-Sided Upper Limit" to 1 decimal place.

image text in transcribed \begin{tabular}{|l|l|} \hline 1-Sided upper limit for attribute 1 & \\ \hline 1-Sided upper limit for attribute 2 & \\ \hline 1-Sided upper limit for attribute 3 & \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Information Systems Understanding Business Processes

Authors: Brett Considine, Alison Parkes, Karin Olesen, Michael Lee, Derek Speer

3rd Edition

1742165559, 978-1742165554

More Books

Students also viewed these Accounting questions