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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 recorded for each item in the sample. For the total sample, the ratio of actual to book value was 1.201, this estimate is approximately normally distributed with a 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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The average error margin was 196 00082 0016072 Therefore the 95 CI o... blur-text-image

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