A marketing research company needs to estimate which of two medical plans its employees prefer. A randomsample of n employees produced the following 98% confidence interval for the proportion of employees whoprefer plan A: (0.241, 0.561). Identify the point estimate for estimating the true proportion of employees whoprefer that plan.
A) 0.401
B) 0.16
C) 0.241
D) 0.561

Question

Quizplus · Accepted Answer

The point estimate for the true proportion is the midpoint of the confidence interval, which is (0.241 + 0.561) / 2 = 0.401.

A Marketing Research Company Needs to Estimate Which of Two