How much typical employee spend per year on dental expeses

Assignment Help Econometrics

Reference no: EM13221845

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. 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?

Reference no: EM13221845

Questions Cloud

Determine the direction of feasibility of each denote : determine the direction of feasibility of each denote the feasible region(mention both graphically and in words)

Does confidence interval include the value suggested by ncaa : Does the 99 percent confidence interval include the value suggested by the NCAA? Interpret this result. Suppose you decided to switch from a 99 to a 95 percent confidence interval. Without performing any calculations, will the interval increase or..

Derive long-run total cost curve in terms of the input price : A packaging firm relies on the production function , with and . Assume that the firm's optimal input combination is interior (it uses positive amounts of both inputs). Derive its long-run total cost curve in terms of the input prices,wandr.

Find the pearson correlation coefficient : Find the Pearson correlation coefficient for the following set of data using the computational formula from the tutorial. Are these sample data sufficient to reject H0: r = 0 for ? = 0.05, two-tailed? What proportion of the variance in Y is accounted..

How much typical employee spend per year on dental expeses : 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

What do defenders of the market approach to environmental : What do defenders of the market approach to environmental responsibilities state about the ability of economic markets to achieve a sound environmental policy? Discuss if their responses are environmentally adequate.

How eco-efficiency can be implemented on an individual : Explain, with an example, how eco-efficiency can be implemented on an individual and a business scale.

The insurance premiums for males and females : A. At first glance, does there seem to be a pattern to the relationship between the insurance premiums for males and females? Describe it.

Explain the following accounting assumptions and principles : Explain the following accounting assumptions and principles briefly

User Account

All Pages