Towers Perrin, a New York human resources consulting firm, conducted a survey of 1100 employees at medium-sized and large companies to determine how dissatisfied employees were with their jobs (The Wall Street Journal, January 29, 2003). Representative data are shown in the file Job Satisfaction. A response of Yes indicates the employee strongly disliked the current work experience.
a. What is the point estimate of the proportion of the population of employees who strongly dislike their current work experience?
b. At 95% confidence, what is the margin of error?
c. What is the 95% confidence interval for the proportion of the population of employees who strongly dislike their current work experience?
d. Towers Perrin estimates that it costs employers one-third of an hourly employee's annual salary to find a successor and as much as 1.5 times the annual salary to find a successor for a highly compensated employee. What message did this survey send to employers?