Some accounting firms give the client an option to pay a fee when the tax return is completed that guarantees tax advice

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Some Accounting Firms Give The Client An Option To Pay A Fee When The Tax Return Is Completed That Guarantees Tax Advice 1 (18.1 KiB) Viewed 38 times

Some accounting firms give the client an option to pay a fee when the tax return is completed that guarantees tax advices and support from the accountant if the client were audited. A large accounting firm is trying to determine what fee to charge for next year's returns. In previous years, the actual mean cost to the firm for attending a client audit session was $660. To determine if this cost has changed, the firm randomly samples 35 client audit fees. The sample mean audit cost was $690 with a standard deviation of $85. Complete parts a and b below. a) Develop a 99% confidence interval estimate for the mean audit cost. The 99% confidence interval for the mean audit cost is ($.$. (Round to the nearest dollar as needed.)