Question
According to a firm specializing in analysis and market research, the average remuneration of the owners of an accounting firm is $188,000/year. A survey conducted
According to a firm specializing in analysis and market research, the average remuneration of the owners of an accounting firm is $188,000/year. A survey conducted by a Quebec organization on a random sample of 22 accounting firms gave the following results regarding the compensation of firm owners: Average annual compensation: $195,000 Standard deviation: $15,500. Do the results of this survey confirm the firm's statement regarding the average compensation of owners of accounting firms? Use an significance level of 0.05. (We also assume a normal distribution)
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