Expected Population Deviation Tolerable Deviation Rate Rate (as Percentages) 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 0.00% 149(0) 99(0) 74(0) 59(0) 49(0) 42(0) 36(0) 32(0) 29(0) 19(0) 14(0) 0.25 236 (1) 157(1) 117(1) 93(1) 78(1) 66(1) 58(1) 51(1) 46(1) 30 (1) 22(1) 0.50 * 157(1) 117(1) 93(1) 78(1) 66(1) 58(1) 51(1) 46(1) 30 (1) 22(1) * 0.75 208(2) 117(1) 93(1) 78(1) 66(1) 58(1) 51(1) 46(1) 30 (1) 22(1) 1.00 * * 156(2) 93(1) 78(1) 66(1) 58(1) 51(1) 46(1) 30(1) 22(1) 1.25 * * 156(2) 124(2) 78(1) 66(1) 58(1) 51(1) 46(1) 30 (1) 22 (1) 1.50 * * 192(3) 124(2) 103(2) 66(1) 58(1) 51(1) 46(1) 30(1) 22(1) 1.75 * * 227(4) 153(3) 103(2) 88(2) 77(2) 51(1) 46(1) 30(1) |22(1) 2.00 * * * 181(4) 127(3) 88(2) 77(2) 68(2) 46(1) 30 (1) 22 (1) 2.25 * * * 208(5) 127(3) 88(2) 77(2) 68(2) 61(2) 30 (1) 22 (1) 2.50 * * * * 150(4) 109(3) 77(2) 68(2) 61(2) 30 (1) 22(1) 2.75 * * * * 173(5) 109(3) 95(3) 68(2) 61(2) 30(1) 22(1) * * * * 3.00 195(6) 129(4) 95(3) 84(3) 61(2) 30 (1) 22(1) * * * * * 3.25 148(5) |112(4) 84(3) 61(2) 30 (1) 22 (1) * * 3.50 167(6) 112(4) 84(3) 76(3) 40(2) 22(1) * * * * * 3.75 185(7) 129(5) 100(4) 76(3) 40(2) 22(1) 4.00 5.00 6.00 * * * * * * 146(6) 100(4) 89(4) 40(2) 22(1) * * * * * * * 158(8) 116(6) 40(2) 30(2) * * * * * * 179(11) 50(3) 30(2) * * * * * * * * 7.00 * 68(5) 37(3)
Expected Population Deviation Tolerable Deviation Rate Rate (as Percentages) 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 0.00% 149(0) 99(0) 74(0) 59(0) 49(0) 42(0) 36(0) 32(0) 29(0) 19(0) 14(0) 0.25 236 (1) 157(1) 117(1) 93(1) 78(1) 66(1) 58(1) 51(1) 46(1) 30 (1) 22(1) 0.50 * 157(1) 117(1) 93(1) 78(1) 66(1) 58(1) 51(1) 46(1) 30 (1) 22(1) * 0.75 208(2) 117(1) 93(1) 78(1) 66(1) 58(1) 51(1) 46(1) 30 (1) 22(1) 1.00 * * 156(2) 93(1) 78(1) 66(1) 58(1) 51(1) 46(1) 30(1) 22(1) 1.25 * * 156(2) 124(2) 78(1) 66(1) 58(1) 51(1) 46(1) 30 (1) 22 (1) 1.50 * * 192(3) 124(2) 103(2) 66(1) 58(1) 51(1) 46(1) 30(1) 22(1) 1.75 * * 227(4) 153(3) 103(2) 88(2) 77(2) 51(1) 46(1) 30(1) |22(1) 2.00 * * * 181(4) 127(3) 88(2) 77(2) 68(2) 46(1) 30 (1) 22 (1) 2.25 * * * 208(5) 127(3) 88(2) 77(2) 68(2) 61(2) 30 (1) 22 (1) 2.50 * * * * 150(4) 109(3) 77(2) 68(2) 61(2) 30 (1) 22(1) 2.75 * * * * 173(5) 109(3) 95(3) 68(2) 61(2) 30(1) 22(1) * * * * 3.00 195(6) 129(4) 95(3) 84(3) 61(2) 30 (1) 22(1) * * * * * 3.25 148(5) |112(4) 84(3) 61(2) 30 (1) 22 (1) * * 3.50 167(6) 112(4) 84(3) 76(3) 40(2) 22(1) * * * * * 3.75 185(7) 129(5) 100(4) 76(3) 40(2) 22(1) 4.00 5.00 6.00 * * * * * * 146(6) 100(4) 89(4) 40(2) 22(1) * * * * * * * 158(8) 116(6) 40(2) 30(2) * * * * * * 179(11) 50(3) 30(2) * * * * * * * * 7.00 * 68(5) 37(3)
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN:9781305627734
Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Chapter8: Time Series Analysis And_forecasting
Section: Chapter Questions
Problem 22P: Consider the following time series: a. Construct a time series plot. What type of pattern exists in...
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Question
You have been asked to test the effectiveness of Ingo Corporation’s control of manually approving all purchases over $25,000. During the year, Ingo Corporation has made 1,000,000 purchases, of which 3,000 were over $25,000. Jian Zhang, CPA, your supervisor, asked you to use a tolerable deviation rate of 4 percent (although she expects the rate to be only approximately 0.50 percent) and a 5 percent risk of assessing control risk too low. Use the following to determine the planned assessed level of control risk and the assessed level of control risk.
| (Planned) Assessed Level of Control Risk | Tolerable Deviation Rate |
|---|---|
| Low | 2−7% |
| Moderate | 6−12% |
| Slightly below the maximum | 11−20% |
| Maximum | Over 20% |
b. Determine the appropriate
sample size:
Transcribed Image Text:Expected
Population
Deviation
Tolerable Deviation Rate
Rate (as
Percentages) 2%
3%
4%
5%
6%
7%
8%
9%
10%
15%
20%
0.00%
149(0)
99(0) 74(0)
59(0)
49(0)
42(0)
36(0)
32(0)
29(0)
19(0)
14(0)
0.25
236 (1)
157(1)
117(1)
93(1)
78(1)
66(1)
58(1)
51(1)
46(1)
30 (1)
22(1)
0.50
*
157(1) 117(1)
93(1) 78(1)
66(1)
58(1) 51(1)
46(1)
30 (1)
22(1)
*
0.75
208(2) 117(1)
93(1) 78(1)
66(1)
58(1) 51(1)
46(1)
30 (1)
22(1)
1.00
*
*
156(2)
93(1) 78(1)
66(1)
58(1)
51(1)
46(1)
30(1)
22(1)
1.25
*
*
156(2)
124(2)
78(1)
66(1) 58(1)
51(1)
46(1) 30 (1)
22 (1)
1.50
*
*
192(3) 124(2)
103(2)
66(1)
58(1)
51(1)
46(1)
30(1)
22(1)
1.75
*
*
227(4) 153(3) 103(2)
88(2)
77(2)
51(1)
46(1)
30(1)
|22(1)
2.00
*
*
*
181(4) 127(3)
88(2)
77(2) 68(2)
46(1)
30 (1)
22 (1)
2.25
*
*
*
208(5) 127(3)
88(2)
77(2) 68(2)
61(2)
30 (1)
22 (1)
2.50
*
*
*
*
150(4)
109(3)
77(2) 68(2)
61(2)
30 (1)
22(1)
2.75
*
*
*
*
173(5)
109(3)
95(3)
68(2)
61(2)
30(1)
22(1)
*
*
*
*
3.00
195(6)
129(4)
95(3)
84(3)
61(2)
30 (1)
22(1)
*
*
*
*
*
3.25
148(5) |112(4)
84(3)
61(2)
30 (1)
22 (1)
*
*
3.50
167(6) 112(4)
84(3)
76(3)
40(2)
22(1)
*
*
*
*
*
3.75
185(7)
129(5)
100(4)
76(3) 40(2) 22(1)
4.00
5.00
6.00
*
*
*
*
*
*
146(6) 100(4)
89(4) 40(2) 22(1)
*
*
*
*
*
*
*
158(8)
116(6) 40(2) 30(2)
*
*
*
*
*
*
179(11) 50(3) 30(2)
*
*
*
*
*
*
*
*
7.00
*
68(5) 37(3)
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