Towers Perrin, a New York human resources consulting firm, conducted a survey of 1100 employees at medium sized and large companies to determine how dissatisfied employees were with their jobs (The Wall Street Journal, January 29, 2003). A total of 473 employees indicated they strongly disliked their current work experience.
a. What is the point estimate of the proportion of the population of employees who strongly dislike their current work experience?
b. At 95% confidence, what is the margin of error?
c. What is the 95% confidence interval for the proportion of the population of employees who strongly dislike their current work experience?
Point estimate of the proportion of population = 0.43
Step by Step solution with explanation is given explaining how to calculate point estimate of population proportion, how to calculate Margin of Error at 95% confidence interval, and 95% confidence interval for the interested attribute.
Students can use this solution as a model solution to solve other similar problems. It makes them easy to understand the procedure to work out such type of problems.