around social and environmental considerations. Refer to the Business and Society (March 2011) study on the sustainability behaviors of CPA corporations, Exercise 2.23 (p. 59). Recall that the level of support for corporate sustainability (measured on a quantitative scale ranging from 0 to 160 points) was obtained for each in a sample of 992 senior managers at CPA firms. Higher point values indicate a higher level of support for sustainability. The accompanying StatCrunch printout gives a 99% confidence interval for the mean level of support for all senior managers at CPA firms. One sample T confidence interval: μ: Mean of variable 99% confidence interval results: Variable Sample Mean Std. Err. DF L. Limit U. Limit Support 67.75504 0.85314633 991 65.553241 69.95684 a. Locate the 99% confidence interval on the printout. b. Use the sample mean and standard deviation on the printout to calculate the 99% confidence interval. Does your result agree with the interval shown on the printout? c. Give a practical interpretation of the 99% confidence interval. d. Suppose the CEO of a CPA firm claims that the true mean level of support for sustainability is 75 points. Do you believe this claim? Explain.

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Please only solve part b, c, and d

### Corporate Sustainability of CPA Firms

**Overview**  
Corporate sustainability refers to business practices designed around social and environmental considerations. A study, referenced from the *Business and Society* (March 2011), examines the sustainability behaviors of CPA corporations.

**Study Details**  
- Sample: 992 senior managers at CPA firms.
- Measurement: Support for corporate sustainability on a 0-160 point scale. Higher points indicate more support.

**Statistical Analysis**  
The accompanying StatCrunch printout provides a 99% confidence interval for the mean level of support among senior managers.

**StatCrunch Printout Details**  

- **Mean (Sample Mean):** 67.75504
- **Standard Error (Std. Err.):** 0.85314633
- **Degrees of Freedom (DF):** 991
- **Lower Limit (L. Limit):** 65.553241
- **Upper Limit (U. Limit):** 69.95684

### Questions

a. **Identify the 99% Confidence Interval:**  
   - The confidence interval is (65.553241, 69.95684).

b. **Calculate the Confidence Interval:**  
   - Utilize the sample mean and standard deviation to calculate the interval. Verify if it aligns with the printout.

c. **Practical Interpretation:**  
   - The 99% confidence interval indicates that we can be 99% confident the true mean support level lies between 65.55 and 69.96 points.

d. **Evaluation of CEO’s Claim:**  
   - The CEO claims the true mean is 75 points. Since 75 is outside the 99% confidence interval, the data does not support the claim.

These analyses provide insights into the support levels for sustainability within CPA firms, highlighting areas for potential improvement in corporate sustainability practices.
Transcribed Image Text:### Corporate Sustainability of CPA Firms **Overview** Corporate sustainability refers to business practices designed around social and environmental considerations. A study, referenced from the *Business and Society* (March 2011), examines the sustainability behaviors of CPA corporations. **Study Details** - Sample: 992 senior managers at CPA firms. - Measurement: Support for corporate sustainability on a 0-160 point scale. Higher points indicate more support. **Statistical Analysis** The accompanying StatCrunch printout provides a 99% confidence interval for the mean level of support among senior managers. **StatCrunch Printout Details** - **Mean (Sample Mean):** 67.75504 - **Standard Error (Std. Err.):** 0.85314633 - **Degrees of Freedom (DF):** 991 - **Lower Limit (L. Limit):** 65.553241 - **Upper Limit (U. Limit):** 69.95684 ### Questions a. **Identify the 99% Confidence Interval:** - The confidence interval is (65.553241, 69.95684). b. **Calculate the Confidence Interval:** - Utilize the sample mean and standard deviation to calculate the interval. Verify if it aligns with the printout. c. **Practical Interpretation:** - The 99% confidence interval indicates that we can be 99% confident the true mean support level lies between 65.55 and 69.96 points. d. **Evaluation of CEO’s Claim:** - The CEO claims the true mean is 75 points. Since 75 is outside the 99% confidence interval, the data does not support the claim. These analyses provide insights into the support levels for sustainability within CPA firms, highlighting areas for potential improvement in corporate sustainability practices.
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b.

Suppose µ is the population mean level of support for all senior managers at CPA firms.

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