rtune magazine reported the results of a survey on executive training that was conducted by the Association of Executive Search nsultants. The survey showed that 75 percent of 300 polled CEOs believe that companies should have "fast-track training grams" for developing managerial talent. Suppose we wish to use the results of this survey to justify the claim that more than 70 percent of CEOs believe that companies ould have fast-track training programs. Assuming that the 300 surveyed CEOs were randomly selected, and assuming, for the sake argument, that 70 percent of CEOs believe that companies should have fast-track training programs (that is, p= .70), calculate the obability of observing a sample proportion of .75 or more. That is, calculate P(2.75). (Round your answer to u to 2 decimal places. und your final answers to 4 decimal places. Do not round the intermediate calculations.) (p-hat) (p-hat) (p-hat) ≥ 0.75) Based on the probability you computed in part a, would you conclude that more than 70 percent of CEOs believe that companies ould have fast-track training programs? O Yes O No

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Fortune magazine reported the results of a survey on executive training that was conducted by the Association of Executive Search
Consultants. The survey showed that 75 percent of 300 polled CEOs believe that companies should have "fast-track training
programs" for developing managerial talent.
(a) Suppose we wish to use the results of this survey to justify the claim that more than 70 percent of CEOs believe that companies
should have fast-track training programs. Assuming that the 300 surveyed CEOs were randomly selected, and assuming, for the sake
of argument, that 70 percent of CEOs believe that companies should have fast-track training programs (that is, p= .70), calculate the
probability of observing a sample proportion of .75 or more. That is, calculate P(2.75). (Round your answer to u to 2 decimal places.
Round your final answers to 4 decimal places. Do not round the intermediate calculations.)
H_(p-hat)
o_(p-hat)
P((p-hat) ≥ 0.75)
(b) Based on the probability you computed in part a, would you conclude that more than 70 percent of CEOs believe that companies
should have fast-track training programs?
O Yes
O No
Transcribed Image Text:Fortune magazine reported the results of a survey on executive training that was conducted by the Association of Executive Search Consultants. The survey showed that 75 percent of 300 polled CEOs believe that companies should have "fast-track training programs" for developing managerial talent. (a) Suppose we wish to use the results of this survey to justify the claim that more than 70 percent of CEOs believe that companies should have fast-track training programs. Assuming that the 300 surveyed CEOs were randomly selected, and assuming, for the sake of argument, that 70 percent of CEOs believe that companies should have fast-track training programs (that is, p= .70), calculate the probability of observing a sample proportion of .75 or more. That is, calculate P(2.75). (Round your answer to u to 2 decimal places. Round your final answers to 4 decimal places. Do not round the intermediate calculations.) H_(p-hat) o_(p-hat) P((p-hat) ≥ 0.75) (b) Based on the probability you computed in part a, would you conclude that more than 70 percent of CEOs believe that companies should have fast-track training programs? O Yes O No
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