Question: Using difference estimation, an auditor has taken a sample of 200 from a population's 40,000 items; that population has a book value of $200,000. She

Using difference estimation, an auditor has taken a sample of 200 from a population's 40,000 items; that population has a book value of $200,000. She found that in her sample the average audited value was $4.20, while the average book value was $5.20. What is the estimated total audited value of the population?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

To estimate the total audited value of the population using difference estimation we can follow thes... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (2 attachments)

60617e48da255_509.pdf

180 KBs PDF File

60617e48da255_509.docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

A quality control supervisor has taken a sample of 16 bolts from the output of a thread-cutting machine and tested their tensile strengths. The results, in tons of force required for breakage, are as...

A sample of 200 individuals are tested for their blood type, and the results are used to test the hypothesized distribution of blood types: At the 0.05 level of significance, is there sufficient...

A survey given to a sample of 200 college students contained questions about the following variables. For each variable, identify the kind of graph that should be used to display the distribution of...

Using difference estimation, an auditor has taken a sample of 200 from a population's 40,000 items; that population has a book value of $200,000. She found that in her sample the average audited...

Using difference estimation, an auditor has taken a sample of 75 from a population's 25,000 items; that population has a book value of $125,000. She found that in her sample the average audited value...

Using mean-per-unit estimation, an auditor has taken a sample of 200 from a population's 40,000 items; that population has a book value of $200,000. She found that in her sample the average audited...

B Assurance Services(1) Auditing & Assurance Services (1) Using mean-per-unit estimation an auditor has taken a sample of 200 from a population's 40,000 items that population has a book value of...

ACC555 FINAL EXAM NAME _______________________________ 1. The 10,000 accounts receivable of DEF Company have a total book value of $120,000. A CPA has selected and audited a sample of 100 accounts...

I've attached the question as a word file, thanks! c04AccrualAccountingConcepts.qxd 8/3/10 1:50 PM Page 162 chapter 4 ACCRUAL ACCOUNTING CONCEPTS the navigator Scan Study Objectives Read Feature...

The sides of the triangle shown increase in such a way that =L and E= 3 . At the instant when X: 12 and y: 5, what is the d! dr d

The marketing department of Graber Corporation has submitted the following sales forecast for the upcoming fiscal year. Budgeted unit sales First Quarter 16,000 Second Quarter 15,000 Third Quarter...

Tom negotiates with Marion for the purchase of three brand new cars which he had seen advertised in the local newspaper for 10,000 each. They are both local car dealers. Consider the legal position...

(b) (i) A circuit has a voltage v(t) = vocos (wt) applied to it and draws a current: i(t) = iocos (wt +) where is the constant phase difference between the voltage and current waveforms and all other...

The partnership of Waterway, Wildhorse, and Sheffield engaged you to adjust its accounting records and convert them uniformly to the accrual basis in anticipation of admitting Kerns as a new partner....

[The following information applles to the questions displayed below.] Diana and Ryan Workman were married on January 1 of last yeat, Ryan has an eight-year-old son, Jorge, from his previous marriage....

Problem 1 You are trying to help your client, Bobby Hoying, construct a portfolio, Bobby has a quadratic utility function. There are three assets in the economy, labeled X, Y, and Z. Bobby's agent...

Match each of the key terms with the definition that best fits it. _______________ A record of the sequence of data entries and the date of those entries. Here are the key terms from the chapter. The...

Read the Case Study: https://www.studocu.com/en-us/document/the-university-of-adelaide/portfolio-theory-management-iii/lecture-notes/braeburn-case/8837071/view In January 2018 when this evaluation...

Given the following data from three in de pen dent samples, use the 0.025 level in determining whether the population means could be the same. (Use data file XR12092.) 3-48377 11212 701536 21121 2...

A scatter diagram includes the data points (x = 3, y = 8), (x = 5, y = 18), (x = 7, y = 30), and (x = 9, y = 32). Two regression lines are proposed: (1) = 5 + 3x, and (2) = 2 + 4x. Using the...

For the y and x values listed in file XR15065, obtain the simple linear regression equation, then analyze the residuals by (a) Constructing a histogram, (b) Using a normal probability plot, (c)...

For the following hypothesis test: H0: m 200 HA: m 200 a 0.01 with n 64, s 9, and 196.5, state a. the decision rule in terms of the critical value of the test statistic b. the calculated value...

Paper-R-Us is a national distributor of printer and copier paper for commercial use. The data file called Sales contains the annual, year-to-date sales values for each of the companys customers....

The National Club Association does periodic studies on issues important to its membership. The 2008 Executive Summary of the Club Managers Association of America reported that the average country...