Several years ago, two companies merged. One of the concerns after the merger was the increasing burden of retirement expenditures. An effort was made to encourage employees to participate in the 401(k) accounts. Nationwi eligible workers participated in these accounts. The accompanying data table contains responses of 30 employees of the company when asked if they were currently participating in a 401(k) account. Complete parts a through d. Click the icon to view the data table. a. Determine the sample proportion of company workers who participate in 401(k) accounts. The sample proportion is. (Round to three decimal places as needed.) b. Determine the sampling erTor if in reality the company workers have the same proportion of participants in 401(k) accounts as does the rest of the nation. The error is- (Round to three decimal places as needed.) c. Determine the probability that a sample proportion least as large as that obtained in the sample would be obtained if the company's workers have the same proportion of participants in the 401(k) accounts as does the rest of The probability is (Round to four decimal places as needed.) Data Table

Several years ago, two companies merged. One of the concerns after the merger was the increasing burden of retirement expenditures. An effort was made to encourage employees to participate in the 401(k) accounts. Nationwi eligible workers participated in these accounts. The accompanying data table contains responses of 30 employees of the company when asked if they were currently participating in a 401(k) account. Complete parts a through d. Click the icon to view the data table. a. Determine the sample proportion of company workers who participate in 401(k) accounts. The sample proportion is. (Round to three decimal places as needed.) b. Determine the sampling erTor if in reality the company workers have the same proportion of participants in 401(k) accounts as does the rest of the nation. The error is- (Round to three decimal places as needed.) c. Determine the probability that a sample proportion least as large as that obtained in the sample would be obtained if the company's workers have the same proportion of participants in the 401(k) accounts as does the rest of The probability is (Round to four decimal places as needed.) Data Table

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Description: Several years ago, two companies merged. One of the concerns after the merger was the increasing burden of retirement expenditures. An effort was made to encourage employees to participate in the 401(k) accounts. Nationwide, 62% ofeligible workers p

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Concept explainers

Types of Bias

Statistics is the study of data collection, organization, analysis, interpretation, and presentation. Statistical bias is a characteristic of a statistical technique or its findings in which the expected value deviates from the actual root quantitative parameter being estimated. According to the actual definition of bias, it refers to the tendency of a statistic to overestimate or underestimate a parameter.

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Question

Several years ago, two companies merged. One of the concerns after the merger was the increasing burden of retirement expenditures. An effort was made to encourage employees to participate in the 401(k) accounts. Nationwide, 62% of
eligible workers participated in these accounts. The accompanying data table contains responses of 30 employees of the company when asked if they were currently participating in a 401(k) account. Complete parts a through d.
Click the icon to view the data table.
a. Determine the sample proportion of company workers who participate in 401(k) accounts.
The sample proportion is
(Round to three decimal places as needed.)
b. Determine the sampling error if in reality the company workers have the same proportion of participants in 401(k) accounts as does the rest of the nation.
The error is.
(Round to three decimal places as needed.)
c. Determine the probability that a sample proportion at least as large as that obtained in the sample would be obtained if the company's workers have the same proportion of participants in the 401(k) accounts as does the rest of the nation.
The probability is
(Round to four decimal places as needed.)
i
Data Table
d. Does it appear that a larger proportion of company workers participate in 401(k) accounts than do the workers of the nation as a whole? Support your response.
because there is a
% chance of obtaining a sample proportion greater than the one calculated in part a if the population proportion is 62%.
(Round to the nearest percent as needed.)
Yes
Yes
Yes
No
Yes
Yes
Yes
Yes
Yes
No
No
No
Yes
Yes
Yes
Yes
Yes
No
No
Yes
Yes
No
No
No
Yes
No
Yes
Yes
Yes
Yes
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