An insurance company proposes two health insurance plans for the employees of a company. Plan A is the basic plan and covers only the medication expenses in case of hospitalization, whereas Plan B reimburses all medical expenses of the employees. As a human ressources manager, you are required to estimate how many employees will opt for Plan B. The manager randomly asks 74 emplyees and 21 of them prefer Plan B. Find the lower confidence limite (LCL) of the 98% confidence interval estimate for the population proportion of employees who will prefer Plan B. Round your answer to three decimal places.
An insurance company proposes two health insurance plans for the employees of a company. Plan A is the basic plan and covers only the medication expenses in case of hospitalization, whereas Plan B reimburses all medical expenses of the employees. As a human ressources manager, you are required to estimate how many employees will opt for Plan B. The manager randomly asks 74 emplyees and 21 of them prefer Plan B. Find the lower confidence limite (LCL) of the 98% confidence interval estimate for the population proportion of employees who will prefer Plan B. Round your answer to three decimal places.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:QUESTION 15
An insurance company proposes two health insurance plans for the employees of a company. Plan A is the basic plan and covers only the
medication expenses in case of hospitalization, whereas Plan B reimburses all medical expenses of the employees. As a human
ressources manager, you are required to estimate how many employees will opt for Plan B. The manager randomly asks 74 emplyees
and 21 of them prefer Plan B. Find the lower confidence limite (LCL) of the 98% confidence interval estimate for the population
proportion of employees who will prefer Plan B. Round your answer to three decimal places.
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