Using Difference Estimation, an Auditor Has Taken a Sample of 200

question 35

Multiple Choice

Using difference estimation, an auditor has taken a sample of 200 from a population's 40,000 items; that population has a book value of $200,000. She found that in her sample the average audited value was $4.20, while the average book value was $5.20. What is the estimated total audited value of the population?

• A) $160,000.
• B) $161,538.
• C) $168,000.
• D) $200,000.

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Definitions:

Social Loafing

The phenomenon where individuals exert less effort to achieve a goal when they work in a group compared to when they work alone.

Group Assignments

Educational tasks or projects undertaken by a group of students intended to foster teamwork and collaborative learning.

Internalization

The process by which individuals take in and accept the norms, values, and beliefs of their society as their own.

Social Influence

The effect that the words, actions, or mere presence of other people have on our thoughts, feelings, attitudes, or behaviors.