The length of time between billing and receipt of payment
Chapter 8, Problem 122SE(choose chapter or problem)
Problem 122SE
The length of time between billing and receipt of payment was recorded for a random sample of 100 of a certified public accountant (CPA) firm’s clients. The sample mean and standard deviation for the 100 accounts were 39.1 days and 17.3 days, respectively. Find a 90% confidence interval for the mean time between billing and receipt of payment for all of the CPA firm’s accounts. Interpret the interval.
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