8-9. A random sample of n = 12 values taken from a normally distributed population resulted in the following sample values: 107 109 99 91 103 105 105 94 107 94 97 113 Use the sample information to construct a 95% confidence interval estimate for the + population mean.

8-9. A random sample of n = 12 values taken from a normally distributed population resulted in the following sample values: 107 109 99 91 103 105 105 94 107 94 97 113 Use the sample information to construct a 95% confidence interval estimate for the + population mean.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

See similar textbooks

Related questions

Q: Using the following returns, calculate the arithmetic average returns, the variances, and the…

A: It has been provided: Required: Asset X: Average return ? Variance ? Standard…

Q: When the auditor goes through a population and selects items for the sample without regard to their…

A: Audit sampling is the procedure which helps the auditors in doing the audit by taking samples from…

Q: onsider the following data: 2 9 6 alculate the Sample Variance. Round to one decimal pl 3.09 O 12.1…

A: Solution:- Calculation of the sample variance as follows:-

Q: Monetary Unit Sampling Misstatement Factors for Sample Evaluation TABLE 9-3 90% Desired Confidence…

A: Monetary unit sampling (MUS) It is a method of sampling that determines if there is any misstatement…

Q: Monetary Unit Sampling with IDEA: Determining Sample Size and Selecting Sample Items. Assume that…

Q: Find the standard deviation for the given sample data. Round your answer to one more decimal place…

A: Standard deviation is the square root of variance. To find the variance, mean of the sample data is…

Q: In systematic sampling, the population is 270 and the selected sample size is 18. The sampling…

A: Distriburtion = Total population / Sample size

Q: Given the following grades on s test: 86, 92, 100, 93, 89, 95, 79, 98, 68, 62, 71, 75, 88, 86, 93,…

A: The objective of this question is to find the percentage of scores that lie within one and two…

Q: Evaluating Results: Classical Variables Sampling. Kyle Berry is using mean-per-unit estimation in…

A: a. b.

Q: QUESTION 4 B. Using audit sampling, a subset of the population is selected for testing to derive…

A: Here below given the details of the Audit sampling and elements which are associated with the…

Q: For each term in the first column below, identify its definition (or partial definition). Each…

A: Introduction Tolerable rate of deviation: The maximum percentage fluctuation in audit sample that…

Q: A sample of n=16 observations is drawn from a normal population with µ=1000 and σ=200. Find the…

Q: Sample Evaluation. In the most recent local election between two candidates, you heardyour local…

A: a. Sample estimate: The sample estimate is the process of estimating the true population depending…

Q: Assume the following misstatements were found in a PPS sample. Sample Item Book Value $650 540 (a)…

A: 1. If Book value > sampling interval then; projected misstatement = actual difference2. If Book…

Q: A component of an account balance has a recorded balance of $10,000 and an audited valueof $8,000.…

A: Misstatement in accounting is defined as the difference between audited value and book value of…

Q: Suppose that one in six smartphone users have fallen prey to cyber-attack. We use a sample of 210…

A: Part a-1) : Expected value = 0.17 Standard error = 0.0259 Part a: Yes, because np ≥ 5 and n(1-p) ≥ 5…

Q: Thestandard error of the mean is equal to:a.the sample variance divided by the sample size.b.the…

A: Standard error of the mean (SEM) is a measure of the difference between the mean of the sample and…

Q: Consider the data scores 8, 9, 13, 20, and 25. Solve for the Range, Mean, Standard Deviation and…

A: The range, mean, standard deviation and variance are the terms used to analyse the nature of the…

Q: Determine the Sample size in the AHMED Company according to the following data: Book value of…

A: The answer is stated below:

Q: As the desire decreases for a given materiality amount, the sample size necessary to test an…

A: Auditing and Assurance

Q: A random sample of 200 from a population of 1000 accounts receivable. Total misstatement for the…

A: Estimated total misstatement population is calculated as below

Q: Identify the factors an auditor uses to decide the appropriateARO. Compare the sample size for an…

Q: Calculate the variance of the following returns. Year 1 2 3 4 5 Return 0.17 0.2 -0.17 0.24 0.03…

A: Return in Year 1 = 0.17Return in Year 2 = 0.2Return in Year 3 = -0.17Return in Year 4 = 0.24Return…

Q: A random sample of 100 people was taken. Eighty of the people in the sample favoured Candidate A. We…

A: This is the two tailed test . The null and alternative hypothesis is H0 : p = 0.75 Ha : p > 0.75…

Q: Sample Size Determination. For each of the following independent cases, use AICPA sample size tables…

A: The determination of sample size states the act for choosing the observations number which is…

Q: Select the necessary words from the list of possibilities to complete the following statements. 1. 2…

A: Since you have posted a question with multiple sub-parts, we will do the first three for you. To get…

Q: 1. What percent of the area under the standard normal curve is within one standard deviation of…

A: The objective of the question is to find out the percentage of the area under the standard normal…

Q: When using monetary unit sampling, a population is accepted as being materially correct when the:…

A: Monetary unit sampling, also known as dollar unit sampling, is a statistical sampling method used in…

Q: Calculate the coefficient of variation for a set of data with standard deviation of 4.2, number of…

A: The coefficient of variation is a ratio calculated by dividing the standard deviation by the mean.…

Q: The interpretation of the ULRD in an attributes sampling application isa. The estimated rate of…

A: The interpretation of the ULRD in an attributes sampling application is the estimated rate of…

Q: A type of sampling application in which a relatively small initial sample is examined anddecisions…

A: Attributes sampling: Attributes sampling helps the auditor to assess a specific rate of occurrence…

Q: Sample Evaluation. Gloria Bush has performed a sampling plan to estimate the numberof children per…

A: a.

Q: PAS 530 defines methods of selecting samples. Describe briefly each method: a) Random number…

A: a) Random number selection: This method of selecting samples involves generating a list of random…

Question

89. A random sample of n= 12 values taken from a normally distributed population resulted
in the following sample values:
107
109
99
91
103
105
105
94
107
94
97
113
Use the sample information to construct a 95% confidence interval estimate for the
+ population mean.
Solution

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

Step 2

Step 3

Step 4

Step 5

Step 6

Step 7

Trending now

This is a popular solution!

Step by step

Solved in 7 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.

Similar questions

The following are auditor judgments and attributes sampling results for six populations. Assume large population sizes. 1 2 3 4 5 6 EPER (in percent) 2 0.5 1 0 2 5 TER (in percent) 6 4 20 3 8 10 ARO (in percent) 10 5 10 5 5 10 Actual sample size 100 100 20 100 60 60 Actual number of exceptions in the sample 2 3 1 1 1 5 For each population, did the auditor select a smaller sample size than is indicated by using the attributes sampling tables in Table 15-8(p. 519) for determining sample size? What are the implications of selecting either a larger or smaller sample size than those determined using the tables? Calculate the SER and CUER for each population. For which of the six populations should the sample results be considered unacceptable? What options are available to the auditor? Why is analysis of the exceptions necessary even when the populations are considered acceptable? For…
If the _______ exceeds the _______, the audit team would decide to rely on internal control as planned and maintain control risk at planned levels.a. ULRD; tolerable rate of deviation.b. tolerable rate of deviation; ULRD.c. expected population deviation rate; tolerable rate of deviation.d. tolerable rate of deviation; expected population deviation rate.
Identify the Sampling technique shown in .this picture (ihä 1) Simple Random Sampling O Systematic Random Sampling O Stratified Random Sampling O Cluster Sampling O
Which of the following statistical techniques are used to test controls? Mean-per-unit sampling. Attribute sampling. Difference estimation. Ratio estimation.
Monetary unit sampling (MUS) is the most commonly used statistical method of samplingfor tests of details because of its simplicity and its ability to provide statistical resultsin dollars. Read an article titled “Monetary-Unit Sampling Using Microsoft Excel” thatappeared in the May 2005 issue of The CPA Journal (www.nysscpa.org/cpajournal/2005/505/essentials/p36.htm) to answer the following questions.a. The authors suggest that there are three critical steps in applying MUS. What arethese steps?b. How do the authors indicate that an MUS sample size is determined?c. What two factors must be considered when evaluating the results of the sample?
Which of the following pairs of selection methods could appropriately be used in statistical sampling applications?a. Unrestricted random selection, block selection.b. Block selection, haphazard selection.c. Systematic random selection, haphazard selection.d. Unrestricted random selection, systematic random selection.
37. A pie chart meets the ACCURATE criteria for good quality information because visualising the components of a data set in a pie chart is User-targeted Authoritative Timely Relevance 38. A consultant has made two statements about sampling: An entire set of data from which a sample can be selected for analysis a called a distribution Statistical methods can be applied to a representative sample in both exploratory and confirmatory data analysis Are these statement accurate? Only state 1 is accurate Only state 2 is accurate Both state are accurate Neither state is accurate
Q5) Audit sampling is used in conjunction with many audit tests, and may be performed on a statistical or nonstatistical basis.a. Define the term audit sampling.b. List and explain two advantages of the use of statistical sampling as compared to non statistical sampling.
Determine the median and the values corresponding to the first and third quartiles in the fol-lowing data.4647494951535454555559
Find the mean, variance, and standard deviation of the binomial distribution with the given values of n and p. n= 124, p = 0.56
Use the sample data and confidence level given below to complete parts (a) through (d). A drug is used to help prevent blood clots in cortain patients. In olinical trials, among 4202 patienta treated with the drug, 120 developed the adverse reaction of nausea. Construct a 96% confidence interval for the proportion of adverse reactions a) Find the best point estimate of the population proportion p. (Round to three decimal places as needed.)

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS