Recently Burke Inc. Conducted research focused on the primary employee feedback tools used by companies to listen to employee concerns. The sample was composed of 50 Fortune 500 companies and 161 midsized companies. Company representatives in senior human resource positions were contacted. In the sample of 50 Fortune 500 companies, 76% said they conducted employee surveys at least once a Year, compared to 61% of the 161 midsized companies in the sample (source: burke. com).
a. Build a 95% confidence interval estimate of the difference in the proportion of all companies in each of the two categories that conduct employee surveys at least once a year.
b. Identify the standard error and the margin of error terms in your interval.