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Business, 04.05.2020 22:47 sanafarghal

An auditor needs to estimate the percentage of times
a company fails to follow an internal control procedure. A
sample of 50 from a population of 1,000 items is selected,
and in 7 instances, the internal control procedure was not
followed.
a. Construct a 90% one-sided confidence interval estimate
for the population proportion of items in which the internal control procedure was not followed.
b. If the tolerable exception rate is 0.15, what should the
auditor conclude?

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Answers: 2

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