In a study of invoice errors in a company's new billing system, an auditor randomly sampled 35

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In a study of invoice errors in a company's new billing system, an auditor randomly sampled 35 invoices produced by the new system and recorded actual amount (A), invoice amount (I), and the difference (or error), x = 1A - I2. The results were x̅ = $1 and s = $124. At the time that the sample was drawn, the new system had produced 1,500 invoices. Use this information to find an approximate 95% confidence interval for the true mean error per invoice of the new system. Interpret the result.
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Statistics For Business And Economics

ISBN: 9780134506593

13th Edition

Authors: James T. McClave, P. George Benson, Terry Sincich

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