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The software developers of a billing system of ACME Telecom Company would accept at most an error rate of 4% that a sample of invoices would contain some variations that may be present in a large population of total invoices. With a certainty factor of 1.95 how many invoices would they need to examine?

The software developers of a billing system of ACME Telecom Company would accept at most an error rate of 4% that a sample of invoices would contain some variations that may be present in a large population of total invoices. With a certainty factor of 1.95 how many invoices would they need to examine?

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter17: Advanced Issues In Revenue Recognition
Section: Chapter Questions
Problem 21GI: Describe input and output methods used to measure progress over time for performance obligations...
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  1. The software developers of a billing system of ACME Telecom Company would accept at most an error rate of 4% that a sample of invoices would contain some variations that may be present in a large population of total invoices. With a certainty factor of 1.95 how many invoices would they need to examine?
**Problem 5: Invoice Sampling for Error Rate Analysis** The software developers of a billing system at ACME Telecom Company require that the error rate in a sample of invoices be no more than 4%. The goal is to identify variations in a sample that may be indicative of errors present in the larger population of total invoices. To determine the number of invoices necessary to examine, a certainty factor of 1.95 is used. The question is: how many invoices should be reviewed in this sampling process?
Transcribed Image Text:**Problem 5: Invoice Sampling for Error Rate Analysis** The software developers of a billing system at ACME Telecom Company require that the error rate in a sample of invoices be no more than 4%. The goal is to identify variations in a sample that may be indicative of errors present in the larger population of total invoices. To determine the number of invoices necessary to examine, a certainty factor of 1.95 is used. The question is: how many invoices should be reviewed in this sampling process?
**Project Activity Chart** This table outlines the details of various activities associated with a project. It includes the following columns: 1. **Activity**: Designation of the project task. 2. **Duration**: Time required to complete each activity (measured in unspecified time units). 3. **Predecessor (dependency)**: Any prior activities that must be completed before beginning the given activity. 4. **Dependency Type**: Indicates the nature of the dependency: - "D" could denote a Direct dependency. - "M" could denote a Milestone or other type of dependency. 5. **Number of Workers**: Number of workers assigned to each activity. **Activity Details**: - **Activity A** - Duration: 2 - Predecessors: None - Dependency Type: D - Number of Workers: 2 - **Activity B** - Duration: 4 - Predecessors: None - Dependency Type: D - Number of Workers: 2 - **Activity C** - Duration: 10 - Predecessors: None - Dependency Type: M - Number of Workers: 4 - **Activity D** - Duration: 3 - Predecessors: A - Dependency Type: D - Number of Workers: 2 - **Activity E** - Duration: 1 - Predecessors: B - Dependency Type: D - Number of Workers: 2 - **Activity F** - Duration: 2 - Predecessors: C, D, E - Dependency Type: M(C, E) - Number of Workers: 4 This table is useful for understanding task sequences, the necessary workforce, and the coordination required to successfully execute and manage the project.
Transcribed Image Text:**Project Activity Chart** This table outlines the details of various activities associated with a project. It includes the following columns: 1. **Activity**: Designation of the project task. 2. **Duration**: Time required to complete each activity (measured in unspecified time units). 3. **Predecessor (dependency)**: Any prior activities that must be completed before beginning the given activity. 4. **Dependency Type**: Indicates the nature of the dependency: - "D" could denote a Direct dependency. - "M" could denote a Milestone or other type of dependency. 5. **Number of Workers**: Number of workers assigned to each activity. **Activity Details**: - **Activity A** - Duration: 2 - Predecessors: None - Dependency Type: D - Number of Workers: 2 - **Activity B** - Duration: 4 - Predecessors: None - Dependency Type: D - Number of Workers: 2 - **Activity C** - Duration: 10 - Predecessors: None - Dependency Type: M - Number of Workers: 4 - **Activity D** - Duration: 3 - Predecessors: A - Dependency Type: D - Number of Workers: 2 - **Activity E** - Duration: 1 - Predecessors: B - Dependency Type: D - Number of Workers: 2 - **Activity F** - Duration: 2 - Predecessors: C, D, E - Dependency Type: M(C, E) - Number of Workers: 4 This table is useful for understanding task sequences, the necessary workforce, and the coordination required to successfully execute and manage the project.
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