An Accounting Firm Is Planning for the Next Tax Preparation

question 39

Multiple Choice

An accounting firm is planning for the next tax preparation season. From last year's returns, the firm collects a systematic random sample of 100 filings. The 100 filings showed an average preparation time of 90 minutes with a standard deviation of 140 minutes.
What is the probability that the mean completion time will be more than 120 minutes?

• A) Approximately zero
• B) 0.0832
• C) 0.4168
• D) 0.0162
• E) None of the choices are correct

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Definitions:

Promised Time

A specified duration or a moment in the future at which certain events are foretold or expected to happen.

Differentiation

A strategy businesses use to distinguish their products or services from those of competitors, often through unique features or superior quality.

Market Faster

Strategies or actions taken by companies to speed up their product development processes and market entry times.

Reliable Products

Reliable products are goods that consistently perform well over time, meeting consumer expectations for quality and durability.