According to statistics reported on CNBC, a surprising number

| January 30, 2017

Question
1.According to statistics reported on CNBC, a surprising number of motor vehicles are not
covered by insurance (CNBC, February 23, 2006). Sample results, consistent with the
CNBC report, showed 46 of 200 vehicles were not covered by insurance.
a. What is the point estimate of the proportion of vehicles not covered by insurance?
b. Develop a 95% confidence interval for the population proportion.
2.. Towers Perrin, a New York human resources consulting firm, conducted a survey of 1100
employees at medium-sized and large companies to determine how dissatisfied employees
were with their jobs (The Wall Street Journal, January 29, 2003). Representative data are
shown in the file JobSatisfaction. A response of Yes indicates the employee strongly
disliked the current work experience.
a. What is the point estimate of the proportion of the population of employees who
strongly dislike their current work experience?
b. At 95% confidence, what is the margin of error?
c. What is the 95% confidence interval for the proportion of the population of employees
who strongly dislike their current work experience?
d. Towers Perrin estimates that it costs employers one-third of an hourly employee’s annual salary to find a successor and as much as 1.5 times the annual salary to find a successor
for a highly compensated employee. What message did this survey send to employers?

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