A company claims that its accounts receivable follow a normal distribution with a mean of $500 and
Question:
A company claims that its accounts receivable follow a normal distribution with a mean of $500 and a standard deviation of $75. An auditor will certify the bank’s claim only if the mean of a random sample of 50 accounts lies within
$25 of the mean. Assume that the bank has accurately reported its mean accounts receivable. What is the probability that the auditor will certify the bank’s claim?
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Assuming the bank has accurately reported its accounts receivable with a mean of 500 and a standard ...View the full answer
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Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
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Related Book For 
Statistics For Business And Financial Economics
ISBN: 9781461458975
3rd Edition
Authors: Cheng Few Lee , John C Lee , Alice C Lee
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