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The margin of error: (to 4 decimals)

The margin of error: (to 4 decimals)

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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For many years businesses have struggled with the rising cost of health care. But recently, the increases have slowed due to less inflation in health care prices and employees paying for a larger portion of health care benefits. A recent Mercer survey showed that 50% of U.S. employers were likely to require higher employee contributions for health care coverage in 2009. Suppose the survey was based on a sample of 883 companies. Compute the margin of error and a 90% confidence interval for the proportion of companies likely to require higher employee contributions for health care coverage in 2009. The margin of error: (to 4 decimals) The 90% confidence interval: ) (to 4 decimals)
Transcribed Image Text:For many years businesses have struggled with the rising cost of health care. But recently, the increases have slowed due to less inflation in health care prices and employees paying for a larger portion of health care benefits. A recent Mercer survey showed that 50% of U.S. employers were likely to require higher employee contributions for health care coverage in 2009. Suppose the survey was based on a sample of 883 companies. Compute the margin of error and a 90% confidence interval for the proportion of companies likely to require higher employee contributions for health care coverage in 2009. The margin of error: (to 4 decimals) The 90% confidence interval: ) (to 4 decimals)
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