Question
The employees of Electronics Inc. would like to have a dental plan as part of their benefits package. The question is: how much does a
The employees of Electronics Inc. would like to have a dental plan as part of their benefits package. The question is: how much does a typical employee and their family spend per year on dental expenses? A sample of 46 employees reveals the mean amount spent last year was $1900, with a standard deviation of $630.
a. Construct a 98% confidence interval for the population mean. (Round the final answers to the nearest whole dollar.)
Population mean $ $
b. The information from part (a) was given to the president of Electronics Inc. He indicated he could afford $1750 of dental expenses per employee. Is it possible that the population mean could be $1750?
(Click to select) Yes. No. The population mean (Click to select) could be could not be $1750 because it is (Click to select) in the not in the interval constructed above.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started