Question

From a recent company survey, it is known that the proportion of employees older than 55 and considering retirement is 8%. For a random sample of size 110, what is standard deviation for the sampling distribution of the sample proportions, rounded to three decimal places?

Answer 1

Answer: 2.845

Explanation:

The formula to find the standard deviation is given by :-

`\sigma=√(n(1-p)p)`, where p is the probability of getting success in each trial and n is the sample size.

Given : Sample size : n=110

The proportion of employees older than 55 and considering retirement : p=0.08

Then, the standard deviation is given by :-

`\sigma=√(110(1-0.08)0.08)\approx2.845347079\approx2.845`

Hence, the standard deviation for the sampling distribution of the sample proportions is 2.845.