Question 7 Robert is a qualified chartered accountant and is in the process of planning to...

  

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Question 7 Robert is a qualified chartered accountant and is in the process of planning to use attribute sampling in order to determine the degree of relance to be placed on a cent's system internal control over sales. The following information is available: 30 paints Control Procedure Parameters 2 Sampling Risk Tolerable deviation rate Expected population deviation rate 3% 4% 7% 4% 8% 3% The number of deviations: Control Procedure Results Number of deviations Required: MacBook Air Sampling Risk Tolerable deviation rate Expected population deviation rate 3% 4% 7% 4% 8% 3% The number of deviations: Control Procedure Results Number of deviations 1. 2 Required: 1. Determine the sample size for each of the control procedures it Marks Mark 2. Determine the sample deviation rate. Maa 3 Determine the computed upper deviation rate Marta 4 What conclusion should Robert reach about each control procedure? Justity your answer MocBook Air Question 7 Robert is a qualified chartered accountant and is in the process of planning to use attribute sampling in order to determine the degree of relance to be placed on a cent's system internal control over sales. The following information is available: 30 paints Control Procedure Parameters 2 Sampling Risk Tolerable deviation rate Expected population deviation rate 3% 4% 7% 4% 8% 3% The number of deviations: Control Procedure Results Number of deviations Required: MacBook Air Sampling Risk Tolerable deviation rate Expected population deviation rate 3% 4% 7% 4% 8% 3% The number of deviations: Control Procedure Results Number of deviations 1. 2 Required: 1. Determine the sample size for each of the control procedures it Marks Mark 2. Determine the sample deviation rate. Maa 3 Determine the computed upper deviation rate Marta 4 What conclusion should Robert reach about each control procedure? Justity your answer MocBook Air

Answer rating: 100% (QA)

ANSWER Solution 1 Sample size for each control procedure can be determined using the formula Sample size Zscore Standard deviation Tolerable error2 Wh... View the full answer