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 1156 employees reveals the mean amount spent last year was $1,074.01, with a standard deviation of $167.19. 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.

Findz a/2

What is the 95% confidence interval?

Construct a 99% confidence interval for the population mean amount spent on vision care.

Findz a/2

What is the 99% confidence interval?