The Internal Auditing Staff of a Local Manufacturing Company Performs

question 63

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 current (between 0 and 60 days after billing) .The historical records show that over the past 8 years 70 percent of the accounts have been current.Determine the sample size needed in order to be 99% confident that the sample proportion of the current customer accounts is within .03 of the true proportion of all current accounts for this company.

• A)1842
• B)1548
• C)897
• D)632
• E)1267

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