An auditor was hired to verify the accuracy of a company's new billing system.Thirty-five (35)invoices produced since the system was installed were sampled.The average error on the invoices was $1.00.Historically,the population standard deviation is around $124.00.A 97% confidence interval for the mean error per invoice would be _____.
A)[-268.08,270.08]
B)[-6.69,8.69]
C)[-44.48,46.48]
D)[-38.40,40.40]
E)[-9.17,11.66]

Question

Quizplus · Accepted Answer

The confidence interval is calculated using the formula: mean ± (Z * (σ/√n)), where Z is the Z-score for 97% confidence, σ is the standard deviation, and n is the sample size.

An Auditor Was Hired to Verify the Accuracy of a Company's