The internal audit staff of a local manufacturing company performs a sample audit each quarter to estimate
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The internal audit staff of a local manufacturing company performs a sample audit each quarter to estimate the proportion of accounts that are more than 90 days overdue (delinquent). The company’s quarterly audit reports indicate that 14 percent of accounts have been delinquent on average over the past 8 years. For this quarter, the audit staff randomly selected 250 customer accounts and found that 48 were overdue (delinquent). Find the mean of the sampling distribution of the sample proportion.
Related Book For
Consumer Behavior Building Marketing Strategy
ISBN: 978-0077645557
12th edition
Authors: Delbert Hawkins, David Mothersbaugh
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