Some accounting firms give the client an option to pay an additional fee when doing...
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Some accounting firms give the client an option to pay an additional fee when doing their tax return, that guarantees company support should the client be audited. A large accounting firm would like to update their fee for this type of service. In previous years, the average cost to the firm for being involved in a client audit was $ To determine if this cost has changed, the firm randomly samples clients who got audited. The average audit cost for this sample of clients was $ with a standard error of $ a Compute a confidence interval for the true average involvement cost for all client audits for this company: Use decimals. $ $ b Based on the above interval, should the firm conclude the average audit involvement cost is different than $ there is evidence the true average cost is $ with confidence
Some accounting firms give the client an option to pay an additional fee when doing their tax return, that guarantees company support should the client be audited. A large accounting firm would like to update their fee for this type of service. In previous years, the average cost to the firm for being involved in a client audit was $ To determine if this cost has changed, the firm randomly samples clients who got audited. The average audit cost for this sample of clients was $ with a standard error of $
a Compute a confidence interval for the true average involvement cost for all client audits for this company: Use decimals.
$
$
b Based on the above interval, should the firm conclude the average audit involvement cost is different than $
there is
evidence the true average cost is
$ with confidence
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