The proportion of junior executives leaving large manufacturing companies within three years is to be estimated within 3 percent. The 0.95 degree of confidence is to be used. A study conducted several years ago revealed that the percent of junior executives leaving within three years was 21. To update this study, the files of how many junior executives should be studied?
A) 594
B) 612
C) 709
D) 897
E) None of the choices are correct

Question

Quizplus · Accepted Answer

To determine the sample size needed, the formula for sample size in estimating a proportion is used: n = (Z^2 * p * (1-p)) / E^2. Here, Z is the Z-score for 95% confidence (1.96), p is the estimated proportion (0.21), and E is the margin of error (0.03). Plugging these values into the formula gives approximately 709.

The Proportion of Junior Executives Leaving Large Manufacturing Companies Within