The Internal Auditing Staff of a Local Manufacturing Company Performs $\hat { p }$

question 111

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 14 percent of the accounts have been delinquent.For this quarter,the auditing staff randomly selected 250 customer accounts.What are the mean and the standard deviation of the sampling distribution of $\hat { p }$ ?

• A)14 and 250
• B).14 and .1204
• C)35 and 5.486
• D).14 and .0219
• E)35 and 30.1

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Definitions:

Income Statements

Financial statements that report a company's financial performance over a specific accounting period, detailing revenues, expenses, and profits.

Manage

The act of organizing, controlling, and overseeing resources or tasks to achieve specific goals.

Earnings Over Time

The progression and growth of a company's earnings or an individual's income across different periods.

Interest Rate

The amount charged by a lender to a borrower for the use of assets, expressed as a percentage of the principal.