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The 2013 Australian Graduate Survey found that 71.3% of all Australian resident bachelor degree graduates had found fulltime work within four months of completing their degrees. Now imagine that a researcher carries out a follow-up study by surveying a representative sample of 1,000 recent graduates and finds that 72.1% have found full-time work within four months of completing their degrees.
a. At the 0.01 level of significance, can you state that more than 71.3% of new graduates are finding full-time work within four months of completing their degrees?
b. At the 0.05 level of significance, can you state that the proportion of new graduates who have found full-time work within four months of completion has changed since 2013?
c. What conditions needed to be met in order to answer parts (a) and (b)?
This document contains various important questions and their appropriate answers in the subject field of Economics.
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