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

question 23

Multiple Choice

Using ratio 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:

Complexes

A collection of thoughts, feelings, attitudes, and memories that focus on a particular concept or theme, often influencing an individual's attitude and behavior unconsciously.

Last-Borns

Refers to the youngest children in a family, whose personalities are often thought to be influenced by their birth order.

Dependent On Others

Describes individuals or entities that rely on external support or assistance for their needs or actions.

Intelligent

The ability to learn, understand, and apply information, skills, and reasoning.