Mathematics, 06.04.2020 18:37 bferguson1116
A cost accountant wished to establish the average amount, (no image) , spent by executives per day on travel and lodging. Then a comparison, between the average and the amount turned in to be reimbursed, will be made and unreasonably high or low expense amounts audited. A random sample of 50 executive expense receipts is taken. The average in the sample was $208, and the standard deviation was $29. The accountant prepares a 90-percent confidence level for (no image).
a. What is the confidence interval?
b. Interpret the confidence interval in part a.
c. How would the auditor use these data to determine if an audit should be conducted?
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