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

Question

Quizplus · Accepted Answer

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

The Proportion of Junior Executives Leaving Large Manufacturing Companies Within