The Internal Auditing Staff of a Local Manufacturing Company Performs

question 105

Multiple Choice

The internal auditing staff of a local manufacturing company performs a sample audit each quarter to estimate the proportion of accounts that are more than 90 days overdue (delinquent) .The historical records of the company show that over the past 8 years,the average has been that 13 percent of the accounts have been delinquent.For this quarter,the auditing staff randomly selected 250 customer accounts.What is the probability that no more than 40 accounts will be classified as delinquent?

• A)42.07%
• B)92.07%
• C)7.93%
• D)40.15%
• E)90.15%

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Definitions:

Semiotics

The study of signs and symbols, their interpretation, and their use in communication.

Signs and Meaning

The study of how signs (anything that represents something else) convey meaning, both in language and in other forms of communication.

Narrative Analysis

The study of the formal properties of stories that people tell. It generally attempts to identify such aspects as plot, setting, characters, and order of events.

Stories People Tell

The narratives shared by individuals, often studied in qualitative research to gain insights into beliefs, experiences, and social dynamics.