Consider the population of 15% overstated book value accounting data given in Table 15.1. (See Problem 1 for more discussion about these data.) Using book values to perform your judgment rankings, select a balanced RSS of 96 invoices for auditing using a set size of k = 3. How many cycles m did you need to obtain the RSS? How many invoice book values did you use in total for the judgment rankings that led to the selection of the invoices to audit?
