A marketing research company needs to estimate which of two medical plans its employees prefer. A...
A marketing research company needs to estimate which of two medical plans its employees prefer. A random sample of n employees produced the 98% confidence interval (0.467,0.507) for the proportion of employees who prefer plan A. Identify the point estimate for estimating the true proportion of employees who prefer that plan.
Homework Answers
Solution :
Point estimate = 
= (Lower confidence interval + Upper confidence interval ) / 2
Point estimate =
= (0.467+0.507) / 2=0.487
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