Answered step by step
Verified Expert Solution
Question
1 Approved Answer
In an article in the Journal of Accounting Research, Ashton, Willingham, and Elliott studied audit delay (the length of time from a company's fiscal year-end
In an article in the Journal of Accounting Research, Ashton, Willingham, and Elliott studied audit delay (the length of time from a company's fiscal year-end to the date of the auditor's report) for industrial and financial companies. In the study, a random sample of 250 industrial companies yielded a mean audit delay of 68.04 days with a standard deviation of 35.72 days, while a random sample of 238 financial companies yielded a mean audit delay of 56.74 days with a standard deviation of 34.87 days. Use these sample results to do the following: (a) Calculate a 95 percent confidence interval for the mean audit delay for all industrial companies. Note: t.025 = 1.97 when df= 249. (Round your answers to 3 decimal places.) The 95 percent confidence interval is . (b) Calculate a 95 percent confidence interval for the mean audit delay for all financial companies. Note: t025 = 1.97 when df= 237. (Round your answers to 3 decimal places.) The 95 percent confidence interval is 1
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started