Question: Using mean-per-unit estimation, an auditor has taken a sample of 150 from a population's 50,000 items; that population has a book value of $250,000. She

Usingmean-per-unitestimation, an auditor has taken a sample of 150 from a population's 50,000 items; that population has a book value of $250,000. She found that in her sample the average audited value was $4.50, while the average book value was $5.20. What is the estimated total audited value of the population?

Multiple Choice

  • $215,000.
  • $216,346.
  • $225,000.
  • $250,000.

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!