SOLUTION: I seek your help in the form of probability and statistics. Thank you for your help and instruction. 1. The Human Relations Department of Electronics, Inc., would like to incl

Question 58462This question is from textbook
: I seek your help in the form of probability and statistics. Thank you for your help and instruction.
1. The Human Relations Department of Electronics, Inc., would like to include a dental plan as part of the benefits package. The question is:
How much does a typical employee and his or her family spend per year on dental expenses? A sample of 45 employees reveals the mean amount spent last year was $1,820, with a standard deviation of $660.
a. Construct a 95 percent confidence interval for the population mean.
b. The information from part (a) was given to the president of Electronics, Inc. He indicated he could afford $1,700 of dental expenses per employee. Is it possible that the population mean could be $1,700? Justify your answer
2. The Warren County Telephone Company claims in its annual report that �the typical customer spends $60 per month on local and long distance service.� A sample of 12 subscribers revealed the following amounts spent last month.
$64 $66 $64 $66 $59 $62 $67 $61 $64 $58 $54 $66
1. What is the point estimate of the population mean?
2. Develop a 90 percent confidence interval for the population mean
3. Is the company's claim that the �typical customer� spends $60 per month reasonable?

3. In a poll to estimate presidential popularity, each person in a random sample of 1,000 voters was asked to agree with one of the following statements:
1.The President is doing a good job.
2. The President is doing a poor job.
3. I have no opinion.
This question is from textbook

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
1. The Human Relations Department of Electronics, Inc., would like to include a dental plan as part of the benefits package. The question is:
How much does a typical employee and his or her family spend per year on dental expenses? A sample of 45 employees reveals the mean amount spent last year was $1,820, with a standard deviation of $660.
a. Construct a 95 percent confidence interval for the population mean.
x-bar = 1820
E=1.96(660/sqrt(45))=192.838
CI: 1820-192.838<= mu <=1820+192.838
CI: (1627.162,2012.838)
b. The information from part (a) was given to the president of Electronics, Inc. He indicated he could afford $1,700 of dental expenses per employee. Is it possible that the population mean could be $1,700? Justify your answer
Yes, $1700 is in the 95% confidence interval.
-----------------

2. The Warren County Telephone Company claims in its annual report that �the typical customer spends $60 per month on local and long distance service.� A sample of 12 subscribers revealed the following amounts spent last month.
$64 $66 $64 $66 $59 $62 $67 $61 $64 $58 $54 $66
1. What is the point estimate of the population mean?
x-bar = 62.58
2. Develop a 90 percent confidence interval for the population mean
This is a T-Interval with n=12, x-bar=62.58, s=3.9418
(60.54,64.627)
3. Is the company's claim that the �typical customer� spends $60 per month reasonable?
$60 is slightly outside of the CI.
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3. In a poll to estimate presidential popularity, each person in a random sample of 1,000 voters was asked to agree with one of the following statements:
1.The President is doing a good job.
2. The President is doing a poor job.
3. I have no opinion.
What is the question?
Cheers,
Stan H.

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