An auditor wants to estimate the mean value of a corporation's accounts receivable. The population is divided into four strata, containing 500, 400, 300, and 200 accounts, respectively. On the basis of past experience, it is estimated that the standard deviations of values in these strata will be $150, $200, $300, and $400, respectively. If a 90% confidence interval for the overall population mean is to extend $25 on each side of the sample estimate, determine the total sample size needed under both proportional allocation and optimal allocation.
An auditor wants to estimate the mean value of a corporation's accounts receivable. The population is divided into four strata, containing 500, 400, 300, and 200 accounts, respectively. On the basis of past experience, it is estimated that the standard deviations of values in these strata will be $150, $200, $300, and $400, respectively. If a 90% confidence interval for the overall population mean is to extend $25 on each side of the sample estimate, determine the total sample size needed under both proportional allocation and optimal allocation.
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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