# Question: An auditor selected a random sample of 12 accounts from

An auditor selected a random sample of 12 accounts from all accounts receivable of a given firm. The amounts of the accounts, in dollars, are as follows: 87.50, 123.10, 45.30, 52.22, 213.00, 155.00, 39.00, 76.05, 49.80, 99.99, 132.00, 102.11. Compute an estimate of the mean amount of all accounts receivable. Give an estimate of the variance of all the amounts.

**View Solution:**## Answer to relevant Questions

The Colosseum, once the most popular monument in Rome, dates from about AD 70. Since then, earthquakes have caused considerable damage to the huge structure, and engineers are currently trying to make sure the building will ...According to a recent article in Worth, the average price of a house on Marco Island, Florida, is $2.6 million. Assume that the standard deviation of the prices is $400,000. A random sample of 75 houses is taken and the ...Three random samples of sizes, 30, 48, and 32, respectively, are collected, and the three sample means are computed. What is the total number of degrees of freedom for deviations from the means? What are the expected value and the standard deviation of the sample proportion P-hat if the true population proportion is 0.2 and the sample size is n = 90? Explain why we need to draw random samples and how such samples are drawn. What are the properties of a (simple) random sample?Post your question