Employee Out-of-Pocket Total Annual Cost Cost Total Annual Cost Formula Used 0 Sample Size #N/A 964 203 935 270 Sample Mean (2 decimals) #N/A 0 0 991 238 Standard Deviation (4 decimals) #N/A 638 110 481 108 Confidence Coefficient 0.9 343 84 771 153 Level of Significance #N/A 407 84 1018 267 Margin of Error (2 decimals) #N/A 1244 274 0 0 C.I. Lower Limit (2 decimals) #N/A 1341 332 C.I. Upper Limit (2 decimals) #N/A 0 0 0 0 1672 408 Employee Out-of-Pocket Cost 885 268 Sample Mean (2 decimals) #N/A 467 155 0 0 Standard Deviation (4 decimals) #N/A 2239 581 2263 562 Margin of Error (2 decimals) #N/A 538 159 682 123 C.I. Lower Limit (2 decimals) #N/A 620 120 C.I. Upper Limit (2 decimals) #N/A 1841 425 1459 333 Number of Employees with no Prescription 0 0 Drug Cost #N/A 1887 410 Point Estimate of the Proportion of Employees 2103 465 with no Prescription Drug Cost (2 decimals) #N/A 0 0 1037 246 973 270 The margin of error in part (a) is #N/A 1431 330 0 0 The sample standard deviation in part (a) is #N/AThe Health Care Cost Institute tracks health care expenditures for beneficiaries under the age of 65 who are covered by employer-sponsored private health insurance. The data contained in the Excel Online file below are consistent with the institute's findings concerning annual prescription costs per employee. Analyze the data using Excel and answer the following questions. X Open spreadsheet a. Develop a 90% confidence interval for the annual cost of prescription drugs. ) (to 2 decimals) b. Develop a 90% confidence interval for the amount of out-of-pocket expense per employee. ($ (to 2 decimals) c. What is your point estimate of the proportion of employees who incurred no prescription drug costs? (to 2 decimals) d. Which, if either, of the confidence intervals in parts (a) and (b) has a larger margin of error. Why? The margin of error in part (a) is larger v @ because the sample standard deviation in part (a) is larger |