Auditors of Old Kent Bank Are Interested in Comparing the Reported

Essay

Auditors of Old Kent Bank are interested in comparing the reported value of customer savings account balances with their own findings regarding the actual value of such assets. Rather than reviewing the records of each savings account at the bank, the auditors decide to examine a representative sample of savings account balances. The frame from which they will sample is shown below.
-A cannery claims that its sardine cans have a net weight of 8 oz., with a standard deviation of 0.1 oz. You take a simple random sample of 30 cans and encounter a sample mean of 7.85 oz. Are you inclined to believe the claim?