Multiple Choice
Using ratio estimation, an auditor has taken a sample of 200 from a population's 40,000 items; that population has a book value of $200,000. She found that in her sample the average audited value was $4.20, while the average book value was $5.20. What is the estimated total audited value of the population?
A) $160,000.
B) $161,538.
C) $168,000.
D) $200,000.
Correct Answer:
Verified
Correct Answer:
Verified
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