In a survey of 823 human resource professionals concerning challenges they faced in the workplace, 329 said that employee retention/turnover was an important challenge and 181 said that employee satisfaction was an important challenge. a. Construct a 95 % confidence interval estimate of the population proportion of human resource professionals who believe that employee retention/turnover was an important challenge. b. Construct a 95 % confidence interval estimate of the population proportion of human resource professionals who believe that employee satisfaction was an important challenge. c. How would a human resource professional use the result of (a) and (b)?
In a survey of 823 human resource professionals concerning challenges they faced in the workplace, 329 said that employee retention/turnover was an important challenge and 181 said that employee satisfaction was an important challenge. a. Construct a 95 % confidence interval estimate of the population proportion of human resource professionals who believe that employee retention/turnover was an important challenge. b. Construct a 95 % confidence interval estimate of the population proportion of human resource professionals who believe that employee satisfaction was an important challenge. c. How would a human resource professional use the result of (a) and (b)?
Solution Summary: The author calculates a 95% confidence interval for population proportion of human resource professionals who think that employee retention was an important challenge.
In a survey of 823 human resource professionals concerning challenges they faced in the workplace, 329 said that employee retention/turnover was an important challenge and 181 said that employee satisfaction was an important challenge.
a. Construct a
95
%
confidence interval estimate of the population proportion of human resource professionals who believe that employee retention/turnover was an important challenge.
b. Construct a
95
%
confidence interval estimate of the population proportion of human resource professionals who believe that employee satisfaction was an important challenge.
c. How would a human resource professional use the result of (a) and (b)?
Definition Definition Method in statistics by which an observation’s uncertainty can be quantified. The main use of interval estimating is for describing a range that is made by transforming a point estimate by determining the range of values, or interval within which the population parameter is likely to fall. This range helps in measuring its precision.
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