An auditor is interested in estimating the population mean value for Aloha Companys accounts receivable. The population

Question:

An auditor is interested in estimating the population mean value for Aloha Company’s accounts receivable. The population has been divided into three strata. The accompanying table gives information on the strata and the estimated standard deviations.image text in transcribed

σx̅ = 12.75. Assume you would like a 95% confidence interval to extend $25 on each side of the estimate.

(a) Determine the total sample size for a proportional allocation.

(b) Determine the sample size for an optimal allocation.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Statistics For Business And Financial Economics

ISBN: 9781461458975

3rd Edition

Authors: Cheng Few Lee , John C Lee , Alice C Lee

Question Posted: