In economic downturns, companies attempt to downsize their workforces by offering early retirement incentives to older employees.A survey of 723 companies found that 195 engage in such downsizing practices.The 99% confidence interval for the proportion of companies that downsize their workforces by offering early retirement incentives is ________________________ .
A)0.19 to 0.35
B)0.65 to 0.81
C)0.19 to 0.47
D)0.69 to 0.77
E)0.23 to 0.31

Question

Quizplus · Accepted Answer

The sample proportion is 195/723. Using the formula for a confidence interval for a proportion and a 99% confidence level, the interval is calculated to be approximately 0.23 to 0.31.

In Economic Downturns, Companies Attempt to Downsize Their Workforces by Offering