A Random Sample of 80 Companies Who Announced Corrections to Their

question 24

Essay

A random sample of 80 companies who announced corrections to their balance sheets took a mean time of 8.1 days for the time between balance sheet construction and the complete audit.The population standard deviation is assumed to be 1.3 days.What is the critical value for α = .001 to test the claim that μ is greater than 7.5 days.

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Definitions:

Petromyzontida

An order of jawless fish, also known as lampreys, characterized by their eel-like appearance and parasitic or non-parasitic lifestyle.

Oviparous

Bearing young in the egg stage of development; egg laying.

Caudata

An order of amphibians that includes salamanders, known for their tail throughout life and regeneration abilities.

Tetrapods

Four-limbed vertebrates: the amphibians, reptiles, birds, and mammals.