Question 21 Suppose a survey of 275 executives is taken in an effort to determin

Q: Question 21 Suppose a survey of 275 executives is taken in an effort to determin

Normal approximation to the binomial calculation: Standard error of the mean = SEM = ?x(N-x)/N3 = 0.030 ? = (1-CL)/2 = 0.010 Standard normal deviate for ? = Z? = 2.326 Proportion of positive results = P = x/N = 0.440 Lower bound = P - (Z?*SEM) = 0.37 Upper bound = P + (Z?*SEM) = 0.51

ID: 2907052 • Letter: Q

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Question 21 Suppose a survey of 275 executives is taken in an effort to determine what qualities are most important for an effective CEO to possess. The survey participants are offered several qualities as options, one of which is communication." One hundred twenty-one of the surveyed respondents select "communicator" as the most important quality for an effective CEO. Use these data to construct a 98% confidence interval to estimate the population proportion of executives who believe that "communicator" is the most important quality of an effective CEO ARpendix A Statistical Tables (Round the answers to 2 decimal places.)

Explanation / Answer

Normal approximation to the binomial calculation:

Standard error of the mean = SEM = ?x(N-x)/N3 = 0.030

? = (1-CL)/2 = 0.010

Standard normal deviate for ? = Z? = 2.326

Proportion of positive results = P = x/N = 0.440

Lower bound = P - (Z?*SEM) = 0.37

Upper bound = P + (Z?*SEM) = 0.51

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Question 21 Suppose a survey of 275 executives is taken in an effort to determin

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