A cost accountant wishes to establish the average amount, ? , 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 . From a similar survey the standard
deviation of the amounts is approximately ? = $29 . The accountant prepares a 90-percent confidence level for ?. What is the confidence interval? ____________________ to ____________________
Fill in the blank(s) with correct word
$201.25; $214.75
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a. True b. False Indicate whether the statement is true or false
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