For many years businesses have struggled with the rising cost of health care. But recently, the increases
Question:
For many years businesses have struggled with the rising cost of health care. But recently, the increases have slowed due to less inflation in health care prices and employees paying for a larger portion of health care benefits. A recent Mercer survey showed that 52% of U.S. employers were likely to require higher employee contributions for health care coverage in 2009 (BusinessWeek, February 16, 2009). Suppose the survey was based on a sample of 800 companies. Compute the margin of error and a 95% confidence interval for the proportion of companies likely to require higher employee contributions for health care coverage in 2009.
Step by Step Answer:
Essentials Of Statistics For Business And Economics
ISBN: 9781305081598
7th Edition
Authors: David Anderson, Thomas Williams, Dennis Sweeney, Jeffrey Cam