Question
Several yearsago, two companies merged. One of the concerns after the merger was the increasing burden of retirement expenditures. An effort was made to encourage
Several yearsago, two companies merged. One of the concerns after the merger was the increasing burden of retirement expenditures. An effort was made to encourage employees to participate in the401(k) accounts.Nationwide, 71% of eligible workers participated in these accounts. The accompanying data table contains responses of 30 employees of the company when asked if they were currently participating in a401(k) account.
Complete parts a through d
a. Determine the sample proportion of company workers who participate in401(k) accounts.
b. Determine the sampling error if in reality the company workers have the same proportion of participants in401(k) accounts as does the rest of the nation.
c. Determine the probability that a sample proportion at least as large as that obtained in the sample would be obtained if thecompany's workers have the same proportion of participants in the401(k) accounts as does the rest of the nation.
d. Does it appear that a larger proportion of company workers participate in401(k) accounts than do the workers of the nation as awhole? Support your response.
"Yes/No because there is a ___ % chance of obtaining a sample proportion greater than the one calculated in part a if the population proportion is 71%."
data:
YesYesYesNoYesYesYesNoYesYesYesYesYesNoYesYesYesNoNoYesYesYesYesNoYesNoYesNoYesYes
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