Given the recent economic downturn, only 79% in a graduating class of 329 will f

Question

Given the recent economic downturn, only 79% in a graduating class of 329 will find employment in the first round of a job search. You have 26 friends who have recently graduated. Assume that your friends represent a random sample. Use Table 1. a-1. Interpret the sampling distribution of the sample proportion of your friends who will find employment in the first round of a job search. The sampling distribution is not approximately normal and we need to apply the finite population correction. The sampling distribution is not approximately normal and we need not apply the finite population correction. The sampling distribution is approximately normal and we need not apply the finite population correction. The sampling distribution is approximately normal and we need to apply the finite population correction. a-2. Calculate the expected value and the standard error of the sample proportion. (Round intermediate calculations to 4 decimal places, "expected value" to 2 decimal places and "standard deviation" to 4 decimal places.) Expected value Standard error b. What is the probability that less than 65% of your friends will find employment in the first round of a job search? (Round intermediate calculations to 4 decimal places, “z” value to 2 decimal places, and final answer to 4 decimal places.) Probability

Explanation / Answer

Given the recent economic downturn, only 79% in a graduating class of 329 will find employment in the first round of a job search. You have 26 friends who have recently graduated. Assume that your friends represent a random sample. Use Table 1.

a-1. Interpret the sampling distribution of the sample proportion of your friends who will find employment in the first round of a job search.

The sampling distribution is approximately normal and we need not apply the finite population correction.

a-2. Calculate the expected value and the standard error of the sample proportion. (Round intermediate calculations to 4 decimal places, "expected value" to 2 decimal places and "standard deviation" to 4 decimal places.)

Expected value = 0.79

Standard error = SRQT ( 0.79*0.21 / 26 ) = 0.08

b. What is the probability that less than 65% of your friends will find employment in the first round of a job search? (Round intermediate calculations to 4 decimal places, “z” value to 2 decimal places, and final answer to 4 decimal places.) Probability

P( x < 0.65)

P( z < 0.65 - 0.79 / 0.08 )

P ( Z < -1.75) = 0.0401

Related Questions

Navigate

• Browse (All)
• Browse G
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.