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8 (11) Next question Some accounting firms give the client an option to pay a fee when the tax return is completed that guarantees tax

8 (11)

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Next question 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 $750. To determine if this cost has changed, the firm randomly samples 37 client audit fees. The sample mean audit cost was $710 with a standard deviation of $75. Complete parts a and b below. a) Develop a 99% confidence interval estimate for the mean audit cost. The 99% confidence interval for the mean audit cost is ($ $ D (Round to the nearest dollar as needed.)

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