vouchers are improperly documented. In your job as an auditor, you conduct a random sample of 100 of the company's vouchers and find that 30% of them are improperly documented. Evaluate the CFO's claim. Compute a p-value and explain to the CFO what it means in this context.
vouchers are improperly documented. In your job as an auditor, you conduct a random sample of 100 of the company's vouchers and find that 30% of them are improperly documented. Evaluate the CFO's claim. Compute a p-value and explain to the CFO what it means in this context.
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section11.4: Collecting Data
Problem 3E
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Question
![The chief financial officer (CFO) of a company claims that (at most) 20% of their firm's travel
vouchers are improperly documented. In your job as an auditor, you conduct a random sample of
100 of the company's vouchers and find that 30% of them are improperly documented.
Evaluate the CFO's claim. Compute a p-value and explain to the CFO what it means in this context.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff72dbd1a-89a3-4722-b0fb-ff5be11bbf8a%2F304d24eb-d8fd-4527-a832-12de85d7fa22%2Fucb1bz9_processed.png&w=3840&q=75)
Transcribed Image Text:The chief financial officer (CFO) of a company claims that (at most) 20% of their firm's travel
vouchers are improperly documented. In your job as an auditor, you conduct a random sample of
100 of the company's vouchers and find that 30% of them are improperly documented.
Evaluate the CFO's claim. Compute a p-value and explain to the CFO what it means in this context.
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