THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 8

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
An auditor is faced with reviewing 1,098 invoices.From a random sample of 134 of these accounts,he found that the average amount was $548 with a standard deviation of $129.He also found that 42 out of the 134 in the sample were from out-of-state suppliers.
-Find a 95% confidence interval for the proportion of all invoices that are from out-of-state suppliers.

• A)0.313 ± 0.0739
• B)0.313 ± 0.1298
• C)0.313 ± 0.0426
• D)0.313 ± 0.1519

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Definitions:

Federal Funds

The reserve balances that commercial banks hold at their regional Federal Reserve Bank, often lent overnight to other banks to help meet reserve requirements.

Functional Competition

Refers to competition among businesses that offer different goods or services that meet the same customer need or desire.

Direct Competition

Businesses or products that target the same customers and satisfy the same needs.

Lateral Competition

Competition between companies that offer the same or similar goods or services within the same industry.