18. According to a firm specializing in market analysis and studies, the average compensation of the owners of an accounting firm is over $188,000/year.

A survey conducted by a Quebec-based organization among a random sample of 20 accounting firms yielded the following results regarding the compensation of firm owners:

Average annual compensation: $196,000 Standard deviation: $13,500.

Do the results of this survey support the firm's assertion, with respect to the average compensation of accounting firm owners? Use a significance level of 0.01. (A normal distribution is also assumed)

a) The null hypothesis is not rejected. The reduced deviation t = 2.6502 is greater than the critical t value of 2.5395. The firm's claim about the average compensation of accounting firm owners is not supported.

b) The null hypothesis is rejected. The reduced deviation t = 2.7156 is greater than the critical value of t of 2.5280. The firm's assertion regarding the average compensation of accounting firm owners is not confirmed.

c) The null hypothesis is rejected. The reduced deviation t = 2.6502 is greater than the critical value of t of 2.5395. The firm's assertion regarding the average compensation of accounting firm owners is confirmed.

d) The null hypothesis is not rejected. The reduced deviation t = 2.7156 is greater than the critical value of t of 2.5280. The firm's assertion regarding the average compensation of accounting firm owners is not confirmed.

e) The null hypothesis is not rejected. The reduced deviation t = 2.6502 is greater than the critical value of t of 2.5395. The firm's assertion regarding the average compensation of accounting firm owners is confirmed.

f) The null hypothesis is rejected. The reduced deviation t = 2.6502 is greater than the critical value of t of 2.5395. The firm's assertion regarding the average compensation of accounting firm owners is not confirmed.