The International Business Society conducts a series of managerial surveys to detect challenges that international managers encounter and what strategies help them overcome those challenges. A...

The International Business Society conducts a series of managerial surveys to detect challenges that international managers encounter and what strategies help them overcome those challenges. A previous study showed that employee retention is the most critical organizational challenge currently confronted by international managers. One strategy that may impact employee retention is a successful employee recognition program. The International Business Society randomly selected 423 small firms and 192 large firms. The study showed that 326 of the 423 small firms have employee retention programs compared to 167 of the 192 large organizations.

1. At the 0.01 level of significance, is there evidence of a significant difference between small firms and large firms concerning the proportion that has employee recognition program?


2. Find the p-value and interpret its meaning?