A CPA Knows from Past History That the Average Accounts

question 81

Short Answer

A CPA 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 is within $120 of the population mean?

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Definitions:

Team Cohesiveness

The extent to which team members are attracted to the team and motivated to remain part of it, resulting in higher productivity and morale.

Membership Homogeneity

The degree to which members of a group or team share similar characteristics or backgrounds, which can affect group dynamics and performance.

Team Goals

Objectives set by a group of individuals working together, which are intended to guide and motivate the team towards common achievements.

Task Activities

The specific actions or work carried out by individuals or groups to achieve a particular goal or task.