Calculate the probability of observing a sample proportion

Assignment Help Applied Statistics
Reference no: EM13910067

Fortune magazine reported the results of a survey on executive training that was conducted by the Association of Executive Search Consultants. The survey showed that 75 percent of 300 polled CEOs believe that companies should have "fast-track training programs" for developing managerial talent.

a. Suppose we wish to use the results of this survey to justify the claim that more than 70 percent of CEOs believe that companies should have fast-track training programs. Assuming that the 300 surveyed CEOs were randomly selected, and assuming, for the sake of argument, that 70 percent of CEOs believe that companies should have fast-track training programs (that is, p = .70), calculate the probability of observing a sample proportion of .75 or more. That is, calculate P( pˆ > .75).

b. Based on the probability you computed in part a, would you conclude that more than 70 percent of CEOs believe that companies should have fast-track training programs? Explain.

Reference no: EM13910067

The mean gas mileage for a hybrid ca

The mean gas mileage for a hybrid car is 56 miles per gallon. Suppose that the gasoline mileage is approximately normally distributed with a standard deviation of 3.2 miles pe

Is mean perceived age estimate much more than twenty five

Does the confidence interval make us 95 percent confident that the population mean perceived age estimate is at least 25? Is the mean perceived age estimate much more than 2

Risk factors using a multivariate analysis

The authors stated that they controlled for confounding many risk factors using a multivariate analysis. State an alternative method that the authors could have used to cont

Statistics from cornell''s northeast regional climate center

Statistics from Cornell's Northeast Regional Climate Center indicate that Ithaca, NY, gets an average of 35.4" of rain each year with a standard deviation of 4.2". Assume

Why does a p-value provide a true measure of statistical

Why does a p-value provide a true measure of statistical significance? Try to relate your answer to previously covered concepts - example continuous probability distributions.

What is the probability that a randomly selected man

What is the probability that a randomly selected man who wears a size 12 shoe Has a height outside the range 71 inches to 76 inches,  Is 74 inches or taller and

How does the decrease in confidence affect the sample

A doctor want to estimate the HDL cholesterol of all 20-to 29 year old females. How many subjects are needed to estimate the HDL cholesterol within 2 points with 99%confid

A random sample of 12 residents of one small town

The mean weekly income of residents of one state is $570. A random sample of 12 residents of one small town in the state yielded the following weekly income in dollars

Reviews

Write a Review

 
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!

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