Question

The Principal Financial Group conducted a survey of 1172 employees in the United States between July and August of 2010, and asked if they were currently participating in the employer sponsored automatic payroll deduction for a 401k plan to save for retirement. Of the 1172 employees surveyed, 27% indicated they were participating. The Principal Group reported that 27% of all employees in the United States participate in automatic payroll deduction for a 401k plan to save for retirement with a 4% margin of error.

(a) State a descriptive statistic.

(b) What can be inferred from this survey?

Answer 1

a)

The descriptive statistic of the sample is 27%

It represents the proportion for the sample.

b)

The 4% margin of error means that the true proportion is most likely in the range from 23% to 31% (since 27-4 = 23, 27+4 = 31)

We are 95% confident that the true proportion is in this range.

--------------------------------------

DEAR STUDENT,

IF YOU HAVE ANY QUERY ASK ME IN THE COMMENT BOX,I AM HERE TO HELPS YOU.PLEASE GIVE ME POSITIVE RATINGS

*****************THANK YOU***************