Question

While reviewing the sample of audit​ fees, a senior accountant for the firm notes that the fee charged by the​ firm's accountants depends on the complexity of the return. A comparison of actual charges therefore might not provide the information needed to set next​ year's fees. To better understand the fee​ structure, the senior accountant requests a new sample that measures the time the accountants spent on the audit. Last​ year, the average hours charged per client audit was 3.25 hours. A new sample of 15 audit times shows the following times in hours.

4.9, 4.6, 4.2, 3.4, 3.5,

4.9, 3.3, 3.4, 3.3, 4.6,

3.6, 4.1, 4.7, 3.1, 3.6,

a) Assume the conditions necessary for inference are met. Find a 95​% confidence interval for the mean audit time.

The 95​% confidence interval to estimate the mean audit time is from ___ to ____

Answer 1