22.An auditor needs to separate 20 retirement accounts into 2 strata, using the

Question

22.An auditor needs to separate 20 retirement accounts into 2 strata, using the following data Amount (in $1000s) 278 192 310 Account 86 335 310 290 221 168 188 212 92 56 142 37 186 221 219 305 12 13 14 15 16 17 18 19 Place each of the 20 accounts into bins, starting with $0-$50, $50-$100, $100-$150, etc. by completing the frequency table below a. Range (in $1000s) $0-$50 $50-$100 $100-$150 $150-$200 $200-$250 $250-$300 $300-$350 Number of Accounts Use the cumulative square root of the frequencies method to create 2 strata. Calculate the overall average amount (in $1000s) for the stratified retirement accounts. b. c.

Explanation / Answer

a]

b]

Strata 1: 0 - 150

Strata 2: 150 -350

Range Number of Accounts 0-50 1 50-100 4 10-150 1 150-200 4 200-250 4 250-300 2 300-350 4 Total 20

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