THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
An auditor is faced with reviewing 1,098 invoices.From a random sample of 134 of these accounts,he found that the average amount was $548 with a standard deviation of $129.He also found that 42 out of the 134 in the sample were from out-of-state suppliers.
-Estimate the proportion of all invoices that are from out-of-state suppliers.
A)0.649
B)0.584
C)0.313
D)0.258

Question

Quizplus · Accepted Answer

The proportion of out-of-state suppliers in the sample is 42/134, which is approximately 0.313.