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In estimating by sampling the actual value of the small items in the inventory of a large firm, the actual and the book value were
In estimating by sampling the actual value of the small items in the inventory of a large firm, the actual and the book value were recoeded for each item in the sample. For the total sample,the ratio of actual to book value was 1.201, this estimate being approximately normally distributed withi standard error of 0.0082. If the book value of the inventory is $80,000, compute 95% confidence limits for the actual value.
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