Fishkin,CPA,is Attempting to Determine Whether the Average Height of a Player

question 20

Essay

Fishkin,CPA,is attempting to determine whether the average height of a player on a basketball team is greater than 80 inches.Based on his sample of basketball players,he determined an estimate of 76 inches with an associated precision of 10 inches.The confidence in this estimate is 90 percent.
A.What is the precision interval associated with Fishkin's sample?
B.Based on this sampling interval,what is Fishkin's conclusion?
C.If Fishkin wanted a higher level of confidence in his sample estimate,would the precision be more or less than 10 inches?

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Definitions:

Adjusting Process

The adjusting process in accounting involves making entries at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.

Accrued Revenues

Revenues earned by a company for goods or services provided but not yet billed or paid for by the customer.

Cash Receipts

The collection of cash during a specific time period, typically from sales or other transactions.

Unearned Revenues

Funds received by a company for goods or services that have not yet been delivered or rendered, considered a liability until the product or service is provided to the customer.