A Research Firm Needs to Estimate Within 3% the Proportion

question 39

Multiple Choice

A research firm needs to estimate within 3% the proportion of junior executives leaving large manufacturing companies within three years. A 0.95 degree of confidence is to be used. Several years ago,a study revealed that 21% of junior executives left their company within three years. To update this study,how many junior executives should be surveyed?

• A)594
• B)612
• C)709
• D)897

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Definitions:

Statutorily Secured Monopoly

A monopoly status granted and protected by law to a company, often due to the nature of the industry or service it provides.

Useful New Devices

Innovations or inventions that offer a new utility, often eligible for patent protection.

Fraudulent Marketing

The act of promoting products or services using deceptive, misleading, or false statements to lure consumers into purchasing.

Palming Off Goods

A deceptive practice where a seller misrepresents the origin, quality, or brand of a product to pass it off as another’s.