3 Employees of a firm are compulsory to take up one group insurance. There are 5 options of insurance plans (numbered 1 to 5) to choose from. A random sample of 40 employees’ choices is shown in the table below. a. Find the proportion in the sample opted for plan 3. Calculate a 95% confidence interval for the proportion, p, of all employees chose plan 3. b. Give a reason why the confidence interval calculated in (a) is approximate rather than exact. c. The estimate of p is ?̂, what percentage is associated with the approximate confidence interval ?̂± 0.1? d. How large a sample would be needed to obtain an approximate 95% confidence interval of the form ?̂± 0.1?
3 Employees of a firm are compulsory to take up one group insurance. There are 5 options of insurance plans (numbered 1 to 5) to choose from. A random sample of 40 employees’ choices is shown in the table below. a. Find the proportion in the sample opted for plan 3. Calculate a 95% confidence interval for the proportion, p, of all employees chose plan 3. b. Give a reason why the confidence interval calculated in (a) is approximate rather than exact. c. The estimate of p is ?̂, what percentage is associated with the approximate confidence interval ?̂± 0.1? d. How large a sample would be needed to obtain an approximate 95% confidence interval of the form ?̂± 0.1?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
3
Employees of a firm are compulsory to take up one group insurance. There are 5 options of
insurance plans (numbered 1 to 5) to choose from. A random sample of 40 employees’ choices is
shown in the table below.
a. Find the proportion in the sample opted for plan 3. Calculate a 95% confidence interval for
the proportion, p, of all employees chose plan 3.
b. Give a reason why the confidence interval calculated in (a) is approximate rather than exact.
c. The estimate of p is ?̂, what percentage is associated with the approximate confidence
interval ?̂± 0.1?
d. How large a sample would be needed to obtain an approximate 95% confidence interval of
the form ?̂± 0.1?
Transcribed Image Text:4
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