On May 23, 2013, Gallup reported that of the 1,005 people surveyed, 76% of U.S. workers believe
Question:
On May 23, 2013, Gallup reported that of the 1,005 people surveyed, 76% of U.S. workers believe that they will continue working past retirement age. The confidence level for this study was reported at 95% with a ±3% margin of error.
a. Determine the estimated proportion from the sample.
b. Determine the sample size.
c. Identify CL and α.
d. Calculate the error bound based on the information provided.
e. Compare the error bound in part d to the margin of error reported by Gallup. Explain any differences between the values.
f. Create a confidence interval for the results of this study.
g. A reporter is covering the release of this study for a local news station. How should she explain the confidence interval to her audience?
Step by Step Answer:
Introductory Business Statistics
ISBN: 202318
1st Edition
Authors: Alexander Holmes , Barbara Illowsky , Susan Dean