There is a looming crisis in universities and colleges across North America. In most places enrollments are increasing requiring more instructors. However, there are not enough PhDs to fill the vacancies now. Moreover, among current professors, a large proportion is nearing retirement age. On top of these problems, some universities allow professors over the age of 60 to retire early.

To help devise a plan to deal with the crisis, a consultant surveyed 521 55- to 64-year-old professors and asked each whether he or she intended to retire before 65. The responses are 1 = No and 2 = Yes. Estimate with 95% confidence the proportion of professors who plan on early retirement.