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
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 $740740. To determine if this cost has changed, the firm randomly samples 3434 client audit fees. The sample mean audit cost was $710710 with a standard deviation of $6565. Complete parts an and b below.
Develop a 90% confidence interval estimate for the mean audit cost.
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