8.59 A national association devoted to HR and workplace programs, practices, and training wants to study HR department p

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8.59 A national association devoted to HR and workplace
programs,
practices, and training wants to study HR department
practices and employee turnover of its member organizations.
HR
professionals and organization executives focus on turnover
not
only because it has significant cost implications but also because
it
affects overall business performance. A survey is designed to
estimate
the proportion of member organizations that have both talent and
development programs in place to drive human-capital
management
as well as the member organizations’ mean annual employee
turnover cost (cost to fill a frontline employee position left
vacant
due to turnover). A random sample of 100 member organizations
reveals the following:
Frontline employee turnover cost: X = $12,500, S = $1,000.
Thirty member organizations have both talent and development
programs in place to drive human-capital management.
a. Construct a 95% confidence interval estimate for the
population
mean frontline employee turnover cost of member
organizations.
b. Construct a 95% confidence interval estimate for the
population
proportion of member organizations that have both talent
and development programs in place to drive human-capital
management.
c. What sample size is needed to have 99% confidence of
estimating
the population mean frontline employee turnover cost to within
+-$250?
d. How many member organizations need to be selected to have
90% confidence of estimating the population proportion of
organizations that have both talent and development programs
in
place to drive human-capital management to within +-0.045?