Some accounting firms give the client an option to pay a fee when the tax return is completed that guarantees tax dvices and support from the accountant if the client were audited. A large accounting firm is trying to determine w ee to charge for next year's returns. In previous years, the actual mean cost to the firm for attending a client audit ession was $660. To determine if this cost has changed, the firm randomly samples 32 client audit fees. The sam nean audit cost was $700 with a standard deviation of $65. Complete parts a through c below. ….. The 99% confidence interval for the mean audit cost is ($ 668 ,$ 732). Round to the nearest dollar as needed.) ) Perform the appropriate test to determine if the mean audit cost is now different from the historical mean of 660. Use a .01 level of significance. the null hypothesis that the mean audit cost is the historical mean of $660. The data from the sufficient evidence that the mean audit cost is now different. ample of client audit fees
Some accounting firms give the client an option to pay a fee when the tax return is completed that guarantees tax dvices and support from the accountant if the client were audited. A large accounting firm is trying to determine w ee to charge for next year's returns. In previous years, the actual mean cost to the firm for attending a client audit ession was $660. To determine if this cost has changed, the firm randomly samples 32 client audit fees. The sam nean audit cost was $700 with a standard deviation of $65. Complete parts a through c below. ….. The 99% confidence interval for the mean audit cost is ($ 668 ,$ 732). Round to the nearest dollar as needed.) ) Perform the appropriate test to determine if the mean audit cost is now different from the historical mean of 660. Use a .01 level of significance. the null hypothesis that the mean audit cost is the historical mean of $660. The data from the sufficient evidence that the mean audit cost is now different. ample of client audit fees
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Transcribed Image Text:Some accounting firms give the client an option to pay a fee when the tax return is completed that guarantees tax
advices and support from the accountant if the client were audited. A large accounting firm is trying to determine what
fee to charge for next year's returns. In previous years, the actual mean cost to the firm for attending a client audit
session was $660. To determine if this cost has changed, the firm randomly samples 32 client audit fees. The sample
mean audit cost was $700 with a standard deviation of $65. Complete parts a through c below.
The 99% confidence interval for the mean audit cost is ($ 668,$ 732).
(Round to the nearest dollar as needed.)
b) Perform the appropriate test to determine if the mean audit cost is now different from the historical mean of
$660. Use a .01 level of significance.
the null hypothesis that the mean audit cost is the historical mean of $660. The data from the
sufficient evidence that the mean audit cost is now different.
sample of client audit fees
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