Question

pls give the process of function! thx

1.​An insurance company, underwriting a dental health plan for the employees of a university, wishes to estimate the true proportion p of employees who would buy this optional insurance. The company wants this estimate to be reliable and accurate in order to do appropriate cost and benefit analysis. It is desired that the estimate be within 4 percentage points (±0.04) with 95% confidence.

a. Assume that the company has no information about p. What is the minimum sample size that the company should use so as to meet the desired specifications?

b. Suppose the company learns that a similar study done for another university resulted in a sample proportion of 0.2. With this additional information, what is the minimum sample size that the company should use so as to meet the desired specifications?

c. A sample of 500 was taken. In total, 90 employees in this sample indicated that they would buy this optional dental insurance. Obtain an 80% confidence interval for p. What conclusion can we draw based on the confidence interval?  

Answer 1