A marketing research company needs to estimate which of two medical plans its employees prefer. A random sample of n employees produced the following 95% confidence interval for the proportion of employees who prefer plan A: (0253.0553). Identify the point estimate for estimating the true proportion of employees who prefer that plan. a. 0.403
b. 0.253
c. 0.553
d. 0.15

a. 0.403

Step-by-step explanation:

Confidence interval concepts:

A confidence interval has two bounds, a lower bound and an upper bound.

A confidence interval is symmetric, which means that the point estimate used is the mid point between these two bounds, that is, the mean of the two bounds.

The margin of error is the difference between the two bounds, divided by 2.

Confidence interval of (0.253,0.553)

The bounds are 0.253 and 0.553, so the point estimate is:

This means that the correct answer is given by option A.