A large firm know that 40%of its accounts receivable are wholesale and 60% arc retail. However, to
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Question:
A large firm know that 40%of its accounts receivable are wholesale and 60% arc retail. However, to identify individual accounts without pulling a file and looking at it is difficult. An auditor wishes to sample n =100 of these accounts in order to estimate the average amount of accounts receivable for the firm. The data are separated into wholesale and retail accounts after sampling, with the following results (in dollars).
Wholesale | Retail |
Y̅ 1 = 520 | Y̅ 2 = 280 |
S 1 = 210 | S 2 = 90 |
Estimate the average amount of accounts receivable for the firm, and provide the standard error of your estimate.
Related Book For
Auditing a business risk appraoch
ISBN: 978-0324375589
6th Edition
Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston
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