Provide an Appropriate Response $n$ Employees Produced the Following $90 \%$ Confidence Interval for the Proportion of Employees Who Prefer Plan

question 38

Multiple Choice

Provide an appropriate response.
-A marketing research company needs to estimate which of two medical plans its employees prefer. A random sample of $n$ employees produced the following $90 \%$ confidence interval for the proportion of employees who prefer plan A: $( 0.332,0.612 )$ . Identify the point estimate for estimating the true proportion of employees who prefer that plan.

• A) \(0.472\)
• B) \(0.14\)
• C) \(0.332\)
• D) \(0.612\)

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Definitions:

Fixed and Variable

Costs or expenses that a company may incur, with fixed costs being constant regardless of activities, and variable costs fluctuating with business activity levels.

Separation Methods

Techniques used in chemistry and manufacturing to divide components of mixtures into individual constituents, such as distillation and filtration.

Sales Mix

The sales mix is the proportion of different products or services that a company sells, influencing overall profitability.

Break-even Point

The production level or sales volume at which total revenues equal total expenses, resulting in no net profit or loss.