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?

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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?
4
1
N m m 4
353 4
N N M 5
m m m 2
3 ¢ ¢ 3
Transcribed Image Text:4 1 N m m 4 353 4 N N M 5 m m m 2 3 ¢ ¢ 3
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