A marketing research company needs to estimate which of two medical plans its employees prefer. A random sample of n employees produced the following 95% confidence interval for the proportion of employees who prefer plan A: (0253.0553). Identify the point estimate for estimating the true proportion of employees who prefer that plan. a. 0.403
b. 0.253
c. 0.553
d. 0.15

a. 0.403

Step-by-step explanation:

Confidence interval concepts:

A confidence interval has two bounds, a lower bound and an upper bound.

A confidence interval is symmetric, which means that the point estimate used is the mid point between these two bounds, that is, the mean of the two bounds.

The margin of error is the difference between the two bounds, divided by 2.

Confidence interval of (0.253,0.553)

The bounds are 0.253 and 0.553, so the point estimate is:

This means that the correct answer is given by option A.

the answer is 200

step-by-step explanation:

the way the question is worded, it seems to imply the $264 interest is simple interest, not compound interest.

the simple interest for 2 years is $264; the simple interest for 1 year is $132.

$132 interest on a $600 investment means an interest rate of (132/600)*100 = 22%.

the value of $200 at 22% interest compounded annually for three years is

200%281.22%29%5e3

the amount of interest is that value, minus the original $200.

2 is the final ! : )