After completing a college degree, graduates are faced with the important project of finding a job. Options include networking through friends and relatives, pursuing newspaper ads, applying in person, conducting an Internet job search, using a professional employment agency or recruiter, and using a college placement office. Some of these avenues are likely to be much more productive than others. Specifically, networking has been found to be one of the most productive approaches. With networking, a job seeker develops contacts and exchanges information through an informal network of people. One recent survey involved 703 randomly selected subjects who were all working. Among those subjects, 61% said that they found their job through networking (based on data from Taylor Nelson Sofres Intersearch). Another effective approach appeared to be newspaper ads, with 16% of the respondents finding jobs through such ads. Based on these survey results, can a newspaper article publish the headline with the claim that “Most Workers Find Jobs Through Networking”? Some might argue that although 61% is greater than 50%, this survey involves only 703 people from the millions of workers, so the survey doesn’t provide sufficient justification for the claim that most workers find jobs through networking. But do the survey results provide sufficient justification for the claim? Finding the Test Statistic: A survey of n = 703 randomly selected workers showed that 61% (or p ^ = 0.61) of those respondents found their job through networking. Find the value of the test statistic for the claim that most (more than 50%) workers get their jobs through networking. Finding a Job Through Networking: The survey results: Among 703 randomly selected workers, 61% got their jobs through networking. Use the sample data with a 0.05 significance level to test the claim that most (more than 50%) workers get their jobs through networking. Here is a summary of the claim and the sample data: Claim: Most workers get their jobs through networking. That is, p > 0.5. Sample data: n = 703 and p ^ = 0.61 Provide a solution using the P-value method.
Addition Rule of Probability
It simply refers to the likelihood of an event taking place whenever the occurrence of an event is uncertain. The probability of a single event can be calculated by dividing the number of successful trials of that event by the total number of trials.
Expected Value
When a large number of trials are performed for any random variable ‘X’, the predicted result is most likely the mean of all the outcomes for the random variable and it is known as expected value also known as expectation. The expected value, also known as the expectation, is denoted by: E(X).
Probability Distributions
Understanding probability is necessary to know the probability distributions. In statistics, probability is how the uncertainty of an event is measured. This event can be anything. The most common examples include tossing a coin, rolling a die, or choosing a card. Each of these events has multiple possibilities. Every such possibility is measured with the help of probability. To be more precise, the probability is used for calculating the occurrence of events that may or may not happen. Probability does not give sure results. Unless the probability of any event is 1, the different outcomes may or may not happen in real life, regardless of how less or how more their probability is.
Basic Probability
The simple definition of probability it is a chance of the occurrence of an event. It is defined in numerical form and the probability value is between 0 to 1. The probability value 0 indicates that there is no chance of that event occurring and the probability value 1 indicates that the event will occur. Sum of the probability value must be 1. The probability value is never a negative number. If it happens, then recheck the calculation.
WHAT IS THE BEST WAY TO GO ABOUT FINDING A JOB?
After completing a college degree, graduates are faced with the important project of finding a job. Options include networking through friends and relatives, pursuing newspaper ads, applying in person, conducting an Internet job search, using a professional employment agency or recruiter, and using a college placement office. Some of these avenues are likely to be much more productive than others. Specifically, networking has been found to be one of the most productive approaches. With networking, a job seeker develops contacts and exchanges information through an informal network of people.
One recent survey involved 703 randomly selected subjects who were all working. Among those subjects, 61% said that they found their job through networking (based on data from Taylor Nelson Sofres Intersearch). Another effective approach appeared to be newspaper ads, with 16% of the respondents finding jobs through such ads. Based on these survey results, can a newspaper article publish the headline with the claim that “Most Workers Find Jobs Through Networking”? Some might argue that although 61% is greater than 50%, this survey involves only 703 people from the millions of workers, so the survey doesn’t provide sufficient justification for the claim that most workers find jobs through networking. But do the survey results provide sufficient justification for the claim?
- Finding the Test Statistic: A survey of n = 703 randomly selected workers showed that 61% (or p ^ = 0.61) of those respondents found their job through networking. Find the value of the test statistic for the claim that most (more than 50%) workers get their jobs through networking.
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Finding a Job Through Networking: The survey results: Among 703 randomly selected workers, 61% got their jobs through networking. Use the sample data with a 0.05 significance level to test the claim that most (more than 50%) workers get their jobs through networking. Here is a summary of the claim and the sample data:
Claim: Most workers get their jobs through networking. That is, p > 0.5.
Sample data: n = 703 and p ^ = 0.61
Provide a solution using the P-value method.
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