Auditors of Old Kent Bank Are Interested in Comparing the Reported

question 41

Essay

Auditors of Old Kent Bank are interested in comparing the reported value of customer savings account balances with their own findings regarding the actual value of such assets. Rather than reviewing the records of each savings account at the bank, the auditors decide to examine a representative sample of savings account balances. The frame from which they will sample is shown below.
-A cannery claims that its sardine cans have a net weight of 8 oz., with a standard deviation of 0.1 oz. You take a simple random sample of 30 cans and encounter a sample mean of 7.85 oz. Are you inclined to believe the claim?

---

Definitions:

Population Means

The average values of multiple populations, each calculated by adding all members of each population and then dividing by the number of members in that population.

Goblet Cells

Specialized, mucus-producing cells found in the respiratory and intestinal tracts, which help to protect and lubricate the surfaces.

Pseudostratified Epithelium

A type of tissue lining some internal organs and passages, appearing as multiple layers but actually consists of a single layer of irregularly shaped cells.

Simple Columnar Epithelium

A single layer of tall, closely packed cells, aligned in a row, found in areas such as the digestive tract, where they play roles in absorption, secretion, and protection.