Answered: (X-X BAR)? (Y-Y BAR)2 X-Х BAR Y-Y BAR…

Business

Accounting

(X-X BAR)? (Y-Y BAR)2 X-Х BAR Y-Y BAR (-X BAR) (Y-Y BAR) Y 81 80 75 65 91 80 886576

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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…
Evan Kristopher, CPA intends to use probability-proportional-to-size sampling. He has properly selected and audited a sample of 100 accounts receivable from his client’s population of 3,000 accounts. He calculated a sampling interval of $6,000 and the tolerable misstatement for the account is $30,000. Evan also recalls that “basic precision” is equal to the appropriate reliability factor multiplied times the sampling interval. He wishes to accept a risk of incorrect acceptance of 10%. He found that 97 of the 100 accounts in the sample were properly calculated. However, the following three errors existed: Book Value Audited Value $75 $70 1,000 750 9,300 6,720 Required: Calculate the projected misstatement. Calculate the basic precision. Calculate the incremental allowance. Calculate the upper limit on misstatement. What would the auditors’ conclusion be for the population based on the analysis? explain please
Sampling and Nonsampling Risk. This module provided a detailed example of the use ofsampling to determine whether individuals could reduce their resting heart rates through anaerobic exercise program.Required:Indicate whether each of the following situations reflects sampling risk (S), nonsamplingrisk (NS), both sampling risk and nonsampling risk (B), or neither sampling risk nor nonsampling risk (N). a. The scale on the instrument used to measure heart rates is malfunctioning.b. At one location, you selected only members who participated in a more rigorous aerobicsprogram.c. At one location, your assistant inadvertently recorded measures immediately after theconclusion of an aerobics activity rather than after a five-minute rest period, as done inother locations.d. Attendance is not monitored at all of the exercise sessions.e. Your assistant makes an error in recording a number of measures.f. Your sample is comprised of a disproportionate number of club members over the age of 65.
Basic Sampling: Comprehensive. Reagan Russell is considering opening a multipurposehardware and lawn store in Anytown, USA. Based on his knowledge of the industry, hebelieves that if the average household income is more than $35,000, the store will ultimatelybe successful. He was planning to attempt a census of the income levels in Anytown but hasheard about sampling and is now considering using sampling to obtain the necessary information to make his decision. Required:a. What would you tell Russell about the advantages and disadvantages of sampling?b. Russell is interested in knowing the advantages and disadvantages of statistical sampling.What would you tell him?c. Russell has heard about sampling and nonsampling risk and is concerned about them.1. Define sampling risk and nonsampling risk.2. How can Russell control his exposure to sampling and nonsampling risk?3. What are some possible examples of sampling and nonsampling risk in this situation?d. Assume that Russell decided to use…
Explain the best a possible quantitative research design and sampling technique that can be used for the following research topic: COVID-19: A Threat to the Financial Resiliency of Marriott Hotel Employees.
The results are as followed, 70 percent of the people said yes it is for denise and 30 percent said it is not. For Frank 50 percent said yes it is, and 50 percent said that it is not. 1) Present the game results: Include the empirical results recorded in the lab (or use the results provided). Discuss any strategies you adopted or any issues you encountered in the experiment. 2) Solve the game: Represent the game as a matrix or game tree (appropriate to the game at hand) Solve the game according to the assumptions of game theory explain detailing how you did this. 3) Comparison: Compare the empirical results in 2) to your formal solution in 3); Is there any variation between them? Comment on potential reasons for any variation (or lack of variation).
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.)
Use the Regression tool on the accompanying wedding data, using the wedding cost as the dependent variable and attendance as the independent variable. Complete parts a through c. Click the icon to view the wedding data. OA. The Y-intercept indicates that a wedding with an attendance of 0 people has a mean predicted cost of $bo B. The Y-intercept indicates that a wedding with a cost of $0 has a mean predicted attendance of by people. OC. It is not appropriate to interpret the Y-intercept because it is outside the range of observed wedding costs. D. It is not appropriate to interpret the Y-intercept because it is outside the range of observed attendances. Identify and interpret the meaning of the coefficient of determination in this problem. Select the correct choice below and fill in the answer box to complete your choice. (Round to three decimal places as needed.) Wedding Attendance and Cost Wedding Cost Attendance 58700 300 54000 350 45000 150 OA. The coefficient of determination is…
2. Which of these distributions would you expect to have the highest standard deviation? Age of children in a fourth grade classroom Height of players on a high school basketball team Number of books read by people in New York State Number of M&Ms in a sample of 10 M&M packets