HighTech Inc. randomly tests its employees about company policies. Last year in the 400 random tests...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
HighTech Inc. randomly tests its employees about company policies. Last year in the 400 random tests conducted, 14 employees failed the test. You can use the following Excel model: A Sample Proportion n (sample size) 1 2 3 Alpha 4 Critical value 5 MOE 6 Lower Limit 7 Upper Limit Point estimate of the population proportion =14/400 400 .01 Margin of error |=ABS(NORM.S.INV(B3/2)) |=B4*SQRT(B1*(1-B1)/B2) =B1 - B5 =B1 + B5 a. What is the point estimate of the population proportion? (Round your answers to 1 decimal places.) B % b. What is the margin of error for a 99% confidence interval estimate? (Round your answers to 3 decimal places.) c. Compute the 99% confidence interval for the population proportion. (Round your answers to 3 decimal places.) Confidence interval is between d. Is it reasonable to conclude that 5% of the employees cannot pass the company policy test? Yes and No HighTech Inc. randomly tests its employees about company policies. Last year in the 400 random tests conducted, 14 employees failed the test. You can use the following Excel model: A Sample Proportion n (sample size) 1 2 3 Alpha 4 Critical value 5 MOE 6 Lower Limit 7 Upper Limit Point estimate of the population proportion =14/400 400 .01 Margin of error |=ABS(NORM.S.INV(B3/2)) |=B4*SQRT(B1*(1-B1)/B2) =B1 - B5 =B1 + B5 a. What is the point estimate of the population proportion? (Round your answers to 1 decimal places.) B % b. What is the margin of error for a 99% confidence interval estimate? (Round your answers to 3 decimal places.) c. Compute the 99% confidence interval for the population proportion. (Round your answers to 3 decimal places.) Confidence interval is between d. Is it reasonable to conclude that 5% of the employees cannot pass the company policy test? Yes and No
Expert Answer:
Answer rating: 100% (QA)
a The point estimate of the population proportion is the sample proportion which is calculated as Point Estimate Sample Proportion 14 400 0035 To express this as a percentage you can multiply it by 10... View the full answer
Related Book For
Basic Statistics For Business And Economics
ISBN: 9781260187502
9th Edition
Authors: Douglas A. Lind, William G Marchal, Samuel A. Wathen
Posted Date:
Students also viewed these mathematics questions
-
HighTech Inc. randomly tests its employees about company policies. Last year, in the 400 random tests conducted, 14 employees failed the test. Develop a 99% confidence interval for the proportion of...
-
Fashion Industries randomly tests its employees throughout the year. Last year in the 400 random tests conducted, 14 employees failed the test. Develop a 99% confidence interval for the proportion of...
-
Cost of a packet of tea and a packet of one litre milk are Rs 20 and Rs 30 respectively. 10 cups of tea is made with one packet tea and for each cup 200 ml of milk is used. If tea is sold at 25%...
-
Describe how a noninsulating allocation promotes cooperation among managers and encourages mutual monitoring.
-
Two ropes are connected to a steel cable that supports a hanging weight as shown in Fig. 5.59. (a) Draw a free-body diagram showing all of the forces acting at the knot that connects the two ropes to...
-
Figure shows two plane mirrors that make an angle with each other. Show that the angle between the incident and reflected rays is 2.
-
Bonsai Boards income statement data for the year ended December 31,2010, follow. Assume that the ending inventory was accidentally overstated by $3,300. What are the correct amounts for cost of goods...
-
The stockholders equity for Dairy Place Drive-Ins (DP) on December 31, 2012, follows: On April 16, 2013, the market price of DP common stock was $20 per share. Assume DP distributed an 18% stock...
-
what defines consumer satisfaction? Describe why it is important to measure. Identify one way cinsumer satisfaction can be measured in a healthcare in a 9-10 powerpoint slide presentation?
-
A storeroom is used to organize items stored in it on N shelves. Shelves are numbered from 0 to N-1. The K-th shelf is dedicated to items of only one type, denoted by a positive integer A[K]....
-
You are going to lend a friend $5,000. You want him to repay you $7,500 in 6 years. The interest portion of his repayment is A/ Round to the nearest dollar. The simple interest rate (in percent form)...
-
With reference to Example 7, Chapter 8, use the range of the second sample to estimate \(\sigma\) for the resiliency modulus of recycled materials from the second location. Compare the result with...
-
Use the 0.01 level of significance to test the null hypothesis that \(\sigma=0.015\) inch for the diameters of certain bolts against the alternative hypothesis that \(\sigma eq 0.015\) inch, given...
-
Explain why a market in which broadcast licenses can be purchased might be more efficient than having the FCC assign licenses on some basis designed by the FCC.
-
With reference to Exercise 7.62, test the null hypothesis \(\sigma=600\) psi for the compressive strength of the given kind of steel against the alternative hypothesis \(\sigma>600\) psi. Use the...
-
If \(X\) is a continuous random variable and \(Y=X-\mu\), show that \(\sigma_{Y}^{2}=\sigma_{X}^{2}\).
-
Find all (pure strategy) Nash equilibria in the kidnapping game: Vivica (kin of victim) Guy (kidnapper) Do not kidnap/Kill Do not kidnap/Release Kidnap/Kill Kidnap/Release Pay ransom 3,5 3,5 4,1 5,3...
-
Which of the following raises the credibility of areport? Which of the following raises the credibility of a report? Multiple Choice avoiding predictions avoiding the use of cause-effect statements...
-
The Buffalo, New York, Chamber of Commerce wants to estimate the mean time workers who are employed in the downtown area spend getting to work. A sample of 15 workers reveals the following number of...
-
A recent survey of 50 executives who were laid off during a recent recession revealed it took a mean of 26 weeks for them to find another position. The standard deviation of the sample was 6.2 weeks....
-
Refer to the Lincolnville School District bus data. a. Select the variable for the number of miles traveled last month. Conduct a hypothesis test to determine whether the mean miles traveled last...
-
Assume WestJet repaired one of its Boeing 737 aircraft at a cost of \(\$ 0.8\) million, which West Jet paid in cash. Further, assume that the WestJet accountant erroneously capitalized this cost as...
-
Assume that at the beginning of 2020, Porter Airlines purchased a Bombardier Q400 aircraft at a cost of \(\$ 25,000,000\). Porter expects the plane to remain useful for five years \((5,000,000...
-
Assume that on September 30, 2020, Swiss, the national airline of Switzerland, purchased an Airbus aircraft at a cost of \( 40,000,000\) ( \(\) is the symbol for the euro). Swiss expects the plane to...
Study smarter with the SolutionInn App