Question

A survey of CPAs across the United States found the average net income for sole proprietor CPAs is $114,300. Because this survey is now more than 5 years old, an accounting researcher wants to test this figure by taking a random sample of 36 sole proprietor accountants in the United States to determine whether the average net income has increased. Only 500 sole proprietorships practice in the US. The sample of 36 sole proprietor accountants had a mean of $119,000 with a standard deviation of $12,000.

Does your confidence interval provide evidence that the average net income of
sole proprietor CPAS has increased?   Yes    No    Defend your answer.

Answer 1

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