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An accountant wants to estimate the average annual accounting fee ($), that they charge per client. The accountant took a random sample of 49 clients
An accountant wants to estimate the average annual accounting fee ($), that they charge per client. The accountant took a random sample of 49 clients and found a mean of $750. Assume that in the past, the population standard deviation was known to be $35. Further assume the conditions are satisfied ad do NOT need to be checked here. a) The accountant created the following 99% confidence interval: 750 +/- 2.576 (35/square root (49))
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