An Accounting Firm Is Planning for the Next Tax Preparation

question 29

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 is between 1 and 2 hours, i.e., 60 and 120 minutes?

• A) Approximately 1
• B) 0.1664
• C) 0.8336
• D) 0.9676

---

Definitions:

Oil Shale

Sedimentary rock containing organic matter that can be converted into shale oil through heating; a potential but controversial energy resource.

Oil and Gas

Natural hydrocarbon resources extracted from the Earth, used primarily for energy, heating, and in various industrial applications.

Coal

A black or brownish-black sedimentary rock that is formed from compressed organic matter and used as a fuel.

Rites of Enhancement

Traditional or ceremonial acts that improve or elevate the status of individuals within a community or organization.