Calculate an estimate of the average error per case

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Reference no: EM131303837

Problem -

The sampling plan below was used in a statistical audit. The columns of the table list the strata indices, strata sizes, sample sizes and a description of the strata.

1

25

25

> $ 40,000.00

2

250

50

15,000.00 - 40,000.00

3

450

38

5,001.00 - 14,999.00

4

800

32

1,000.00 - 5,000.00

5

2,000

30

< 1,000.00

Totals

3,525

100

 

The means and standard deviations of erroneously paid dollars by strata were ($10,045, $623), ($8,756, $401), ($4,265, $211), ($809, $75) and ($53, $45), respectively

1. Calculate an estimate of the average error per case in the sampling frame (population) and a 90 % confidence interval for the same.

2. Calculate an estimate of the total dollars in error in the sampling frame (population) and a 90 % confidence interval for the same.

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In this assignment, we were required to calculate an estimate of the average error per case in the sampling frame (population) and an estimate of the total dollars in error in the sampling frame for 90 % confidence interval for the sampling plan being used in a statistical audit containing data of strata indices, strata sizes, sample sizes and a description of the strata.

Reference no: EM131303837

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