SEE ATTACHED FILE - Error of the Sample Proportion
It has been reported that 42.6% of U.S. workers employed as purchasing managers are females. In a simple random sample of U.S. purchasing managers, 70 out of the 200 are females. Given this information:
a. What is the population proportion, π?
b. What is the sample proportion, p?
c. What is the standard error of the sample proportion?
NOTE: Please use an Excel spreadsheet for response. Please do not just
provide the answers but show in complete detail how you arrived at the
answer, step-by-step, from the beginning to the end of the solution.
The solution provides step by step method for the calculation of probability using the Z score. Formula for the calculation and Interpretations of the results are also included. Interactive excel sheet is included. The user can edit the inputs and obtain the complete results for a new set of data.