A roper starch survey asked employees ages 18 to 29 whether they would prefer better health insurance or a raise salary (USA Today, September 5, 200). Answer the following questions assuming 340 of 500 employees said they would prefer better health insurance over a raise.
a) what is the point estimate of the proportion of employees ages 18 to 29 who would prefer better health insurance?
b) What is the 95% confidence interval estimate of the population proportion?
The solution gives the details of interval estimation of population proportion. Step by step procedure is given with interpretation of the confidence interval.