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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 $740. To determine if this cost has changed, the firm randomly samples 35 client audit fees. The sample mean audit cost was $700 with a standard deviation of $85. Complete parts a and b below.
a) Develop a 99% confidence interval estimate for the mean audit cost. The 99% confidence interval for the mean audit cost is left parenthesis $ (__,__) .(Round to the nearest dollar as needed.)
The average weight of 40 randomly selected minivans was 4150 pounds. The standard deviation was 480 pounds. Find the 99% confidence interval of the true weight of the minivans.
What is the probability that a particular state will have more than 2.5% of its income tax returns audited?
Suppose that the actual amount of instant coffee that a filling machine puts into "6-ounce" jars is a random variable having a normal distribution with σ = 0.05 ounce.
Over the same period the average /maximum temperature in Dublin was 6.2 degrees Centigrade. The standard deviation was 2.9. How to compute the variance of temperature in Boston.
Consider the Xbar charts shown below for two processes. The charts may OR may not have instances of special cause variation. Identify ALL violation(s) (if any) of the eight tests where statistical signals show that special cause variation is ind..
A component has an exponential time-to-failure distribution with a mean of 10,000 hours. The component has already been in operation for its mean life. What's the probability that it will fail by 15,000 hours?
a simple random sample of 300 properties is taken from a collection of 9500 properties 3000 of which do not have
consider a regression study involving a dependent variable y a quantitative independent variable x1 and a categorical
A marketing analyst was studying the readability of two advertisements, each produced by a major company, and printed in the newspaper.
Make a his-togram of the distribution of these 31 scores. Does your plot show outliers, clear skewness, or other non- Normal features? Using a calculator, find the mean and standard deviation of these scores.
Need help discussing Regression Analysis and Bulgaria. I am conducting a country analysis and need to discuss this. Please cite any references used.
1) A talk radio station has four telephone lines. If the host is unable to talk (i.e., during a commercial) or is talking to a parson, the other callers arc place on hold. When all lines are in use, others who are trying to call in get a busy sig..
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