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Getting a Job. The National Association of Colleges and Employers sponsors the Graduating Student and Alumni Survey. Part f the survey gauges student optimism in landing a job after graduation. According to one year's survey results, published in American Demographics, the 1218respondents, 733 said that they expected difficulty finding a job. Note: In this problem and the next, round your proportion answers to four decimal places.

a. Use these data to find and interpret a 95% confidence interval for the proportion of students who expect difficulty finding a job.

b. Find the margin of error for the estimate of p.

c. Express the confidence interval in the form point estimate ± margin of error.

Short Answer

Expert verified

a). One can be confident that between 57.43%and 62.93%of U.S. grads will have trouble finding work following graduation.

b). The estimated p has a margin of error of 0.0275 (2.75%).

c). There is a 95%chance that between 0.6018±0.0275%of U.S. grads expect trouble finding work following graduation.

Step by step solution

01

Part (a) Step 1: Given Information

According to a poll, 733 out of 1218 graduates expect trouble finding work following graduation.

02

Part (a) Step 2: Explanation

Sample size is n=1218.

The number of successes is x=733.

Sample proportion would be p^=xn

=7331218

=0.6018

A confidence interval of

1-α, find zα/2using table II.

Confidence level is 95%.

i.e. α=0.05.

Using table II,

zα/2=z0.05/2

=z0.025

=1.96

03

Part (a) Step 3: Explanation

The confidence interval for pis given as-

p^±zα/2·p^(1-p^)n

⇒0.6018±1.960.6018(1-0.6018)1218

⇒0.6018±0.0275

⇒0.5743to0.6293

⇒57.43%to62.93%

As a result, one can be confident that between 57.43%and 62.93%of U.S. grads will have trouble finding work following graduation.

04

Part (b) Step 1: Given Information

The sample size is n=1218.

The number of successes is x=733.

Sample proportion would be p^=xn

=7331218

=0.6018

05

Part (b) Step 2: Explanation

A confidence interval of1-α,

To find zα/2using table II.

Confidence level is 95%. i.e. α=0.05.

Using table II,

zα/2=z0.05/2

=z0.025

=1.96

06

Part (b) Step 3: Explanation

The margin of error for the estimate of pis given as-

E=zα/2·p^(1-p^)n

⇒E=1.960.6018(1-0.6018)1218

⇒E=0.0275

⇒E=2.75%

The estimated p has a margin of error of 0.0275 (2.75%).

07

Part (c) Step 1: Given Information

Sample size is n=1218.

The number of success is x=733.

Sample proportion would be role="math" localid="1651412370640" p^=xn

=7331218

=0.6018

08

Part (c) Step 2: Explanation

Confidence interval

p^±zα/2·p^(1-p^)n

⇒CI=0.6018±0.0275

As a result, there is a 95% chance that between 0.6018±0.0275% of U.S. grads expect trouble finding work following graduation.

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