T
TWMAC
I need an excel formaula that gives me the sample size required to verifify
the accuracy of our total inventory at a 95% confidence level. In other
words, if I check 'x' parts out of 2000 parts, and find these parts are 95%
accurate, can I make this assumption about the rest of the inventory? We
would like to get to the point that we annually prove the accuracy of our
inventory through sample testing rather than take a complete physical
inventory.
the accuracy of our total inventory at a 95% confidence level. In other
words, if I check 'x' parts out of 2000 parts, and find these parts are 95%
accurate, can I make this assumption about the rest of the inventory? We
would like to get to the point that we annually prove the accuracy of our
inventory through sample testing rather than take a complete physical
inventory.