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Suppose it is known that 55% of employees at a company use a Flexible Spending Account (FSA) benet. a. If a random sample of 200
Suppose it is known that 55% of employees at a company use a Flexible Spending Account (FSA) benet. a. If a random sample of 200 employees is selected, do we expect that exactly 55% of the sample uses an FSA? Why or why not? b. Find the standard error for samples of size 200 drawn from this population. What adjustments could be made to the sampling method to produce a sample proportion that is more precise? a. Choose the correct answer below. 0 A. We do not expect that exactly 55% of the sample uses an FSA, because 55% is a population statistic and you cannot know anything about a sample from the population. 0 B. We expect that exactly 55% of the sample uses an FSA, because a sample always has the same statistics as the population. 0 C. We expect that exactly 55% of the sample uses an FSA, because that is the percentage of employees that uses an FSA regardless of sample or population size. O D. We do not expect that exactly 55% of the sample uses an FSA. We do expect that the sample proportion will be close to the population proportion, but it will vary by the sample error from sample to sample
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