Calculate an estimate of the average error per case

Assignment Help Basic Statistics
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.

Verified Expert

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

Questions Cloud

What is the european monetary union : What is pegging? What advantages does pegging offer, and what problems can it run into? What is the controversy over China's pegging the value of the yuan?
Identify a familiar type of retail store or product : Identify a familiar type of retail store or product. Recommend at least three sales promotion methods that should be used to promote the store or product.
What is a speculative attack on a country''s currency : Why may a central bank be unwilling to maintain an undervalued currency, as, for instance, the Bundesbank was unwilling to maintain the undervalued deutshe mark in 1971?
Identify three features of terralign software : Identify three features of TerrAlign software that are likely to benefit salespeople.- Identify three features of TerrAlign software that are likely to benefit sales managers.
Calculate an estimate of the average error per case : 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. Calculate an estimate of the average error per case in the sampling frame (popul..
Write a method to computer the given series : Write a method to computer the following series: m(i) = 1/2 + 2/3 + . . . + i/i + 1. Write a test program that displays the following table: I m(i) 1 0.5000 2 1.1667 . . . 19 16.4023 20 17.3546.
Why were they even more hesitant to pursue a revaluation : What is the difference between a devaluation and a depreciation? Why were countries hesitant to pursue a devaluation? Why were they even more hesitant to pursue a revaluation?
Identify information systems that exist in organisation : What problems do the previous information systems solve - what is the impact of using the previous information systems on the organization?
Why is solutions selling more complex than hardware : Why is solutions selling more complex than hardware and software selling? Identify the sales skills needed for each approach?

Reviews

Write a Review

Basic Statistics Questions & Answers

  Concentrate on correctness and simplicity of design

When a compiler is first designed and implemented, it is wise to concentrate on correctness and simplicity of design. After the compiler is fully implemented and tested, you may need to increase compilation speed.

  Determine the named distribution that would best used to

determine the named distribution that would best used to find situations and explanation why. a person draws 5 cards

  What is the probability that mean of the sample is more

Assuming the manufacturer's claim is correct, what is the probability the mean of the sample is 12.22 ounces or more? Using your answer form part (a), what do you think of the manufacturer's claim?

  Testing a hypothesis and confidence interval

What is the value of the population mean? What is the best estimate of this value? Explain why we need to use the t distribution. What assumption do you need to make?

  Determine whether the hypothesis test involves a sampling

determine whether the hypothesis test involves a sampling distribution of means that is a normal distribution student t

  A manufacturer of disk drives for notebook computers wants

a manufacturer of disk drives for notebook computers wants a mtbf of at least 50000 hours. recent test results for 15

  On a multiple choice test of 13 questions each question has

on a multiple choice test of 13 questions each question has four 4 possible answers one of which is correct. for

  What instrument could the predictive validity of a metric

F90 posted a question Sep 18, 2014 at 12:58pm ..

  Probability regarding cars dealership

You are looking at two used cars at a dealership. They are both the same year, make, model, color and price. You decide to ask the salesman which is more reliable.

  The shear strength of the bond between the two propellant

montgomery peck and vining 2001 report on a study in which a rocket motor is formed by binding an igniter propellant

  Scatterplot between sales and advertising expenditures

Construct a scatterplot between sales and advertising expenditures - Provide a standard evaluation of the scatterplot.

  Develop a decision analysis formulation of this problem if

the hit-and-miss manufacturing company produces items that have a probabilitypof being defective. these items are

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd