TABLE 10-10 A Corporation Randomly Selects 150 Salespeople and Finds That 66

question 14

Short Answer

TABLE 10-10
A corporation randomly selects 150 salespeople and finds that 66% who have never taken a self-improvement course would like such a course. The firm did a similar study 10 years ago in which 60% of a random sample of 160 salespeople wanted a self-improvement course. The groups are assumed to be independent random samples. Let π₁ and π₂ represent the true proportion of workers who would like to attend a self-improvement course in the recent study and the past study, respectively.
-Referring to Table 10-10, construct a 90% confidence interval estimate of the difference in proportion of workers who would like to attend a self-improvement course in the recent study and the past study.

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Definitions:

Monitoring Performance

The process of continually reviewing and assessing the work performance of employees.

Incentive-Pay Plans

Compensation strategies designed to motivate employees by tying a portion of their pay directly to their performance or achievements.

Scanlon Plan

A type of gainsharing program that incentivizes employees to improve productivity through teamwork and sharing the cost savings.

Balanced Scorecard

A strategic planning and management system that organizations use to communicate what they are trying to accomplish, align daily work with strategy, and prioritize projects, products, and services.