Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5. In a company made up of 30,000 employees, 6,900 (23%) are enrolled in an optional savings program. The company is considering changing the program

image text in transcribed
image text in transcribed
5. In a company made up of 30,000 employees, 6,900 (23%) are enrolled in an optional savings program. The company is considering changing the program and decides to rst take a poll of 500 randomly selected employees. In this problem we will look at the sample percentage of employees who are enrolled in the program. (a) Write down all elements of the box model. (b) The average of the tickets in the box is and the SD is . (c) Consider the percentage of employees in the sample who are enrolled in the program. What is its expected value? % What is its standard error? % (d) Use the normal approximation to calculate the chance that the percentage of employees in the sample who are enrolled in the program is between 22% and 24%. Answer: % (e) How do you justify using the normal approximation in (d)? (Your answer should include the name of a theorem and one or more numerical comparisons.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Algebra And Number Theory An Integrated Approach

Authors: Martyn R Dixon, Leonid A Kurdachenko, Igor Ya Subbotin

1st Edition

0470640537, 9780470640531

More Books

Students also viewed these Mathematics questions

Question

In your opinion, who should define normal versus abnormal behavior?

Answered: 1 week ago