An internal control policy for an online retailer

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Reference no: EM13839293

FOR THIS QUESTION WOULD YOU USE THE FINITE POPULATION CORRECTION FACTOR??

An internal control policy for an online retailer requires a quality assurance check before a shipment is made. The tolerable exception rate for this internal control is 0.05. During an audit 500 shipping records were sampled from a population of 6,000 shipping records, and 23 were found that violated the internal control. Complete parts(a) and(b).

a. Calculate the upper bound for a 95% one-sided confidence interval estimate for the rate of noncompliance.

Reference no: EM13839293

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