WHAT IS THE BEST WAY TO GO ABOUT FINDING A JOB? After completing a college degree, graduates are faced with the important project of finding a job. Options include networking through friends and...

WHAT IS THE BEST WAY TO GO ABOUT FINDING A JOB?

After completing a college degree, graduates are faced with the important project of finding a job. Options include networking through friends and relatives, pursuing newspaper ads, applying in person, conducting an Internet job search, using a professional employment agency or recruiter, and using a college placement office. Some of these avenues are likely to be much more productive than others. Specifically, networking has been found to be one of the most productive approaches. With networking, a job seeker develops contacts and exchanges information through an informal network of people.

One recent survey involved 703 randomly selected subjects who were all working. Among those subjects, 61% said that they found their job through networking (based on data from Taylor Nelson Sofres Intersearch). Another effective approach appeared to be newspaper ads, with 16% of the respondents finding jobs through such ads. Based on these survey results, can a newspaper article publish the headline with the claim that “Most Workers Find Jobs Through Networking”? Some might argue that although 61% is greater than 50%, this survey involves only 703 people from the millions of workers, so the survey doesn’t provide sufficient justification for the claim that most workers find jobs through networking. But do the survey results provide sufficient justification for the claim?

1. Finding the Test Statistic: A survey of n = 703 randomly selected workers showed that 61% (or p ^ = 0.61) of those respondents found their job through networking. Find the value of the test statistic for the claim that most (more than 50%) workers get their jobs through networking.


2. 
   

   Finding a Job Through Networking: The survey results: Among 703 randomly selected workers, 61% got their jobs through networking. Use the sample data with a 0.05 significance level to test the claim that most (more than 50%) workers get their jobs through networking. Here is a summary of the claim and the sample data:

   
   

   Claim: Most workers get their jobs through networking. That is, p > 0.5.

   
   

   Sample data: n = 703  and  p ^ = 0.61

   
   

   Provide a solution using the P-value method.