Answer:
the point estimate of the true proportion of employees is 0.401
Step-by-step explanation:
Given data
plan A = ( 0.241 , 0.561 )
to find out
the point estimate for estimating the true proportion of employees who prefer that plan
solution
we know that given data 98% confidence interval for the proportion of employees who prefer plan A: (0.241, 0.561) so point estimate for estimating the true proportion o employees who prefer that plan is p^E
and we can say here
lower limit = [tex]p^{-E}[/tex] = 0.241 ..............1
upper limit = [tex]p^{+E}[/tex] = 0.561 ...............2
now add these two equations 1 and 2
= [tex]p^{-E}[/tex] + [tex]p^{+E}[/tex]
= [tex]p^{-E}[/tex] + [tex]p^{+E}[/tex] = 0.241 + 0.561
2 p = 0.802
2p = 0.806
p = 0.401
So the point estimate of the true proportion of employees is 0.401
