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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 94 emplyees and 24 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 94 emplyees and 24 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.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 1GP
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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 94 emplyees and 24 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.
Transcribed Image Text: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 94 emplyees and 24 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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