An Auditor Knows from Past History That the Average Accounts

question 63

Short Answer

An auditor knows from past history that the average accounts receivable for a company is $521.72, with a standard deviation of $584.64. If the auditor takes a simple random sample of 100 accounts, what is the probability that the mean of the sample will be within $120 of the population mean?

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Definitions:

Whorfian Hypothesis

The theory that the structure of a language affects its speakers' worldview or cognition and thus people's perceptions are relative to their spoken language.

Follow-Up Studies

are research activities conducted after an initial study to monitor outcomes and assess long-term effects or trends.

Spatial Position

The specific physical location or coordinates of an object or individual in a given space.

Cultural Differences

Variations in the practices, norms, and values among groups of people from different backgrounds.