Question

11.1.45-T Questlon Help 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. charge for next year's returns. In previous years, the actual mean cost to the firm for attending a client audit session was $710 cost was S670 with a standard devlation of $75. Complete parts a and b below. large accounting firm is trying to determine what fee to deternine if this cost has changed, the firm randomly samples 35 client audit fees. The sample mean auci ) Develop a 99 % confldence interval estimate for the mean audlt cost aucit cost is s The 99% confidence interval for th . (Round to the n8arast dallar as needed

Answer 1

audt cost Let xhe the nondom Varable deno t 35 C30) hich is con approtimak - As somple mone tha 30, Nomma distu NNI0, 65) /- di 99y 99 Confidene inforvl is /. to.005 75 35 ( G0 75 25t [35 (to- 5 (637. 34 702.66) [637, F03) Aw.