5-2. An auditor selected a random sample of 12 accounts from all accounts receivable of a given firm. The amounts of the accounts, in dollars, are as follows: 87.50, 123.10, 45.30, 52.22, 213.00, 155.00, 39.00, 76.05, 49.80, 99.99, 132.00, 102.11. Compute an estimate of the mean amount of all accounts receivable. Give an estimate of the variance of all the amounts.

5-2. An auditor selected a random sample of 12 accounts from all accounts receivable of a given firm. The amounts of the accounts, in dollars, are as follows: 87.50, 123.10, 45.30, 52.22, 213.00, 155.00, 39.00, 76.05, 49.80, 99.99, 132.00, 102.11. Compute an estimate of the mean amount of all accounts receivable. Give an estimate of the variance of all the amounts.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

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5-2. An auditor selected a random sample of 12 accounts from all accounts receivable of a given firm.
The amounts of the accounts, in dollars, are as follows: 87.50, 123.10, 45.30, 52.22, 213.00, 155.00,
39.00, 76.05, 49.80, 99.99, 132.00, 102.11. Compute an estimate of the mean amount of all accounts
receivable. Give an estimate of the variance of all the amounts.
5-3. In problem 5–2, suppose the auditor wants to estimate the proportion of all the firm's accounts
receivable with amounts over $100. Give a point estimate of this parameter.

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