Question: Use Excel sampling function to create a random sample. Random sample transactions are often used in financial statement audits. a. Access the Excel data file

Use Excel "sampling" function to create a random sample. Random sample transactions are often used in financial statement audits. a. Access the Excel data file prsented above and use Excel's sampling function (part of the data analysis tool) to select a sample of five transaction numbers. Sort the five transactions numbers from smallest to largest. b. Use Excels' VLOOKUP function to find the associated transaction amounts. Here is an example of how it might look: your transaction numbers will likely be different. Transaction # Transaction Amount 11 22 28 29 48 523 464 370 327 361 c. Use the appropriate Excel formula to calculate the mean and standard deviation of the transaction amounts

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

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

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!