3.44 Stratified samples for accounting audits. Accountants use stratified samples during...
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Accounting
Stratified samples for accounting audits. Accountants use stratified
samples during audits to verify a company's records of such things as accounts
receivable. The stratification is based on the dollar amount of the item and often
includes sampling of the largest items. One company reports
accounts receivable. Of these, are in amounts over $; are in
amounts between $ and $; and the remaining are in amounts
under $ Using these groups as strata, you decide to verify all of the largest
accounts and to sample of the midsize accounts and of the small
accounts. How would you label the two strata from which you will sample? Use Table B starting at line to select the first accounts from each of these strata.
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