Question: Question Assume the following relating to monetary unit sampling: Sample planning Population book value = $6,200,000 Sampling interval = $77,500 Results Projected Misstatement = $110,000.

Question

Assume the following relating to monetary unit sampling:

Sample planning

Population book value = $6,200,000

Sampling interval = $77,500

Results

Projected Misstatement = $110,000.

Basic Precision = $290,000.

Upper Limit on Misstatement = $410,000.

Tolerable Misstatement = $380,000.

The planned sample size equals:

(a)64 items.

(b) 80 items.

(c) 412 items.

(d) 18 items.

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