Estimating Doubtful Accounts Outlaw Bike Co. is a wholesaler of motorcycle supplies. An aging of the company’s accounts receivable on December 31, and a historical analysis of the percentage of uncollectible accounts in each age category are as follows:

Age Class Balance Percent Uncollectible
Not past due $556,000 3/4 %
1–30 days past due 61,200 2
31-60 days past due 27,800 7
61–90 days past due 20,000 15
91–180 days past due 14,500 39
Over 180 days past due 10,600 70
$690,100
Estimate what the proper balance of the allowance for doubtful accounts should be as of December 31.

In a recent telephone survey, 5,000 randomly selected teenagers were asked to cite their primary social network site. six of 10 teenagers said they use mybook as their primary social network site. a 95% confidence interval to estimate the true proportion of teenagers who use mybook as their primary social network site is found to be (0.2964, 0.9036). which of the following is a correct interpretation of the confidence level? ninety-five percent of all samples of this size would yield a confidence interval of (0.2964, 0.9036). there is a 95% chance that the true proportion of teenagers who use mybook as their primary social network site is in the interval (0.2964, 0.9036). ninety-five percent of the time, the procedure used to generate this interval will capture the true proportion of teenagers who use mybook as their primary social network site. ninety-five percent of all the samples of size 5,000 lie in the confidence interval (0.2964, 0.9036).