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The internal auditing staff of a local manufacturing company performs a sample audit each quarter to...

The internal auditing staff of a local manufacturing company performs a sample audit each quarter to estimate the proportion of accounts that are current (between 0 and 60 days after billing). The historical records show that over the past 8 years 70 percent of the accounts have been current. Determine the sample size needed in order to be 99% confident that the sample proportion of the current customer accounts is within .03 of the true proportion of all current accounts for this company.
math   Statistics-And-Probability   
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Answer #1
n=(2.576/.03)^2 *.70*.30= 1548.35 round to 1549
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Answer #2
E. 1267
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