User Account

All Pages

Confidence interval estimate for the population mean

Assignment Help Basic Statistics
Reference no: EM131880829

A national association devoted to HR and workplace programs, practices, and training wants to study HR department practices and employee turnover of its member organizations. HR professionals and organization executives focus on turnover not only because it has significant cost implications but also because it affects overall business performance. A survey is designed to estimate the proportion of member organizations that have both talent and development programs in place to drive human-capital management as well as the member organizations' mean annual employee turnover cost (cost to fill a frontline employee position left vacant due to turnover).

A random sample of 100 member organizations reveals the following:

  • Frontline employee turnover cost:   = $12,500, S = $1,000.
  • Thirty member organizations have both talent and development programs in place to drive human-capital management.
  1. Construct a 95% confidence interval estimate for the population mean frontline employee turnover cost of member organizations.
  2. Construct a 95% confidence interval estimate for the population proportion of member organizations that have both talent and development programs in place to drive human-capital management.
  3. What sample size is needed to have 99% confidence of estimating the population mean frontline employee turnover cost to within ±$250?
  4. How many member organizations need to be selected to have 90% confidence of estimating the population proportion of organizations that have both talent and development programs in place to drive human-capital management to within ±0.045?

Reference no: EM131880829

Questions Cloud

Discuss why the skin is considered an organ : Discuss why the skin is considered an organ. Compare and contrast the types of cells and tissues found within the skin. Your response should be 200 words.
Which method of estimation was more accurate : Evaluate your estimated population sizes in comparison to the actual population size. Which method of estimation was more accurate?
Derive the price of the preferred stock : Derive the price of the preferred stock in the 2 cases where it is callable and in 5 years when it becomes non-callable.
What is the current yield and capital gain yield : In 2012, Hospital Systems Inc. issued $750,000,000 worth of Series A Bonds. Assume that these 25-year bonds have a par value of $1,000 and a coupon rate.
Confidence interval estimate for the population mean : Construct a 95% confidence interval estimate for the population mean frontline employee turnover cost of member organizations.
What is the price paid for the t-bill by the investor : A 364 day T-bill with a face value of $1,000,000 was purchased by an investor at an interest rate of 2.38%, and sold after 100 days at interest rate of 2.35%.
What is the coupon rate on merton bonds : Merton Enterprise has bonds with face value of $1,000 on the market making annual payments, What is the coupon rate on Merton's bonds?
Computing the level of measurement : Label each one of your variables as the level of measurement (nominal, ordinal, interval or ration).
Discuss the adaptation of the human body to pregnancy : Discuss the adaptation of the human body to pregnancy or nutrition and health in children with your instructor before beginning work.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Probability that you have picked three vanilas in a row

If there really were 6 vanilla and 6 peanut butter candies in the box, what is the probability that you would have picked three vanillas in a row?

  Probability that professors leave the department

At the end of each academic year, 13% of assistant professors become associate professors and 18% leave the department; 21% of associate professors become full professors, and 17% leave the department; and 9% of full professors leave the departmen..

  Probability confidence intervals not contain population mean

Twenty different simple random samples, each with n = 50, are to be drawn from the process, and a 90% confidence interval for the mean is to be constructed for each sample.- What is the probability that at least 2 of the confidence intervals will n..

  Find the optimal solution using solver

Implement your model on a spreadsheet and find the optimal solution using Solver.

  Random sample and perform a hypothesis test

You take a random sample and perform a hypothesis test, getting a p-value of 0.2578. What is the appropriate conclusion? Conclude at the 5% level of significance.

  Construct a relative frequency histogram for cwn

Assignment - Construct a relative frequency histogram for CWN and a frequency polygon for TAH on the same graph with equal class widths - Draw a bar chart

  Make out a suitable forecasting method

If a time series is stationary without a linear trend or the seasonal component, which of the following forecasting methods may be suitable.

  What is the probability that the number thus formed

What is the probability that the number thus formed is divisible by 39? Note: regard 0 as being divisible by 39.

  Relevant hypotheses at significance

Does the data suggest that true average maximum lean angle for older females is more than 10 degrees smaller than it is for younger females? State and test the relevant hypotheses at significance level .10 by obtaining a P-value.

  There are 150 books in a professors office you take a

there are 150 books in a professors office. you take a random sample of 8 of these books and count the number of pages

  Both samples were of 16 women and the standard deviation

q1 a researcher suggests that male nurses earn more money than female nurses. a survey of 16 male and 20 female

  If a researcher wants to conduct a study about how much

if a researcher wants to conduct a study about how much consumers in a target market segment will spend this year on

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd