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Question 1 15 pts The employees of a large international company would like to have vision care as part of their benefits package. A researcher needs to estimate the amount of money that employees and their beneficiaries spend on such treatment, on average. A sample of 1024 employees reveals the mean amount spent last year was $779.70, with a standard deviation of $143.75. We assume that the population standard deviation is close to the last number. a) Construct a 95% confidence interval for the population mean amount spent on vision care. Find za = Round the confidence interval values to 2 decimal places. What is the 95% confidence interval? (b) Construct a 98% confidence interval for the population mean amount spent on vision care. Find za = Round the confidence interval values to 2 decimal places. What is the 98% confidence interval? (c) What is not true about the confidence intervals? If the confidence level increases from 95% to 98%, then the confidence interval becomes longer. The researcher is 98% confident that the confidence interval constructed in part (b) contains the true average amount spent on vision care. There is no relation between length of the confidence interval and the confidence level. There is a 95% chance that the confidence interval constructed in part (a) contains the true population mean amount spent on vision care. Question Help: Message instructor Add Work Check Answer F9 GU F3 BBQ FA 44 F10 F2 F5 -- F6 F7 FB $ % A & @ 2 4 5 6 O W E R