document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=877876>Question 877876</A>: <I><SPAN STYLE=\"word-break: break-all;\">  Retirement Planning The Principal Financial Group <BR>\n" );
document.write( "conducted a survey of 1172 employees in the United States <BR>\n" );
document.write( "between July 28, 2010, and August 8, 2010, and asked if they were <BR>\n" );
document.write( "currently participating in the employer-sponsored automatic <BR>\n" );
document.write( "payroll deduction for a 401(k) plan to save for retirement. Of the <BR>\n" );
document.write( "1172 employees surveyed, 27% indicated they were participating. <BR>\n" );
document.write( "The Principal Group reported that 27% of all employees in the <BR>\n" );
document.write( "United States participate in automatic payroll deduction for a <BR>\n" );
document.write( "401(k) plan to save for retirement with a 4% margin of error and <BR>\n" );
document.write( "95% con&#64257;dence.\r<BR>\n" );
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document.write( " (a) What is the research objective?<BR>\n" );
document.write( "(b) What is the population?<BR>\n" );
document.write( "(c) What is the sample?<BR>\n" );
document.write( "(d) List the descriptive statistics.<BR>\n" );
document.write( "(e) What can be inferred from this survey?\r<BR>\n" );
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document.write( "Please help. Thanks!! </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #529578 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=529578\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> (a) What is the research objective?\r<BR>\n" );
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document.write( "The objective is to determine the true population proportion of those who participate in an employer-sponsored automatic<BR>\n" );
document.write( "payroll deduction for a 401(k) plan to save for retirement.\r<BR>\n" );
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document.write( "(b) What is the population?\r<BR>\n" );
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document.write( "The population is the entire set of people who work in the United States.\r<BR>\n" );
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document.write( "(c) What is the sample?\r<BR>\n" );
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document.write( "The sample is the set of people surveyed. To keep costs low, and be efficient, the sample is smaller than the population. If you were to survey the *entire* population, then it would be very expensive.\r<BR>\n" );
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document.write( "(d) List the descriptive statistics.\r<BR>\n" );
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document.write( "The 27% of the sample is the descriptive statistic because it represents the proportion for the sample.\r<BR>\n" );
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document.write( "(e) What can be inferred from this survey? \r<BR>\n" );
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document.write( "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)\r<BR>\n" );
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document.write( "We are 95% confident that the true proportion is in this range. </SPAN>\n" );
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