The human relations department of Electronics Inc. would like to include a dental plan as part of
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The human relations department of Electronics Inc. would like to include a dental plan as part of the benefits package. The question is: How much does a typical employee and his or her family spend per year on dental expenses? A sample of 45 employees reveals the mean amount spent last year was $1,820, with a standard deviation of $660.
a. Construct a 95% confidence interval for the population mean.
b. The information from part (a) was given to the president of Electronics Inc. He indicated he could afford $1,700 of dental expenses per employee. Is it possible that the population mean could be $1,700? Justify your answer.
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Related Book For
Basic Statistics For Business And Economics
ISBN: 9781260187502
9th Edition
Authors: Douglas A. Lind, William G Marchal, Samuel A. Wathen
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