An auditor takes a random sample of 880880 invoices from the 9510 invoices relating to the activities of a company in 2019. The sample mean value of the sampled invoices was £126 and the sample standard deviation was £58. Find a 99% confidence interval for the mean value of all the invoices for 2019. Round to 3 decimal places The records of the company states that the total income from the 9510 invoices was £1150710. The auditor's sample evidence does not support this stated total. True or false?  What is the probability, rounded to 3 decimal places, that the company's income does not exceed the value in the records?

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
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An auditor takes a random sample of 880880 invoices from the 9510 invoices relating to the activities of a company in 2019. The sample mean value of the sampled invoices was £126 and the sample standard deviation was £58.

Find a 99% confidence interval for the mean value of all the invoices for 2019. Round to 3 decimal places

The records of the company states that the total income from the 9510 invoices was £1150710. The auditor's sample evidence does not support this stated total. True or false? 

What is the probability, rounded to 3 decimal places, that the company's income does not exceed the value in the records?

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