Multiple choice

The following table shows the result of a recent survey: Reported Job Satisfaction by Education Level (in thousands) Highest level of Education Satisfied Not Satisfied No Response Total High School Diploma 17880 12053 2575 32508 Bachelor's Degree 24236 8496 3442 36174 Master's Degree 17605 5324 1861 24790 Doctoral Degree 12210 2081 972 15263 Total 71931 27954 8850 108735 Of the people whose highest level of education was a bachelor's degree who reported job satisfaction, 1000 people were randomly selected to complete a follow up survey in which they were asked about their salary satisfaction. There were 658 people in this follow-up sample who said that they were satisfied with their salaries, and the other 342 people were not satisfied. Based on the data from the initial and the follow-up survey, which of the following statement is most likely true?

  1. Approximately 16 million people with bachelor's degrees would report salary satisfaction.

  2. Approximately 24 million people with bachelor's degrees would report salary satisfaction.

  3. Approximately 47 million people with bachelor's degrees would report salary satisfaction.

  4. Approximately 72 million people with bachelor's degrees would report salary satisfaction.
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A Correct answer
Explanation

From the table, 24,236 thousand people have a bachelor's degree and reported job satisfaction. In the follow-up survey of 1000 of these people, 658 were satisfied with their salary. This is 65.8% of the group. Applying this percentage to the total population of 24,236,000 gives approximately 15,947,288, which rounds to 16 million.

AI explanation

In the follow-up survey, 658 out of 1000 people were satisfied with their salaries, giving a probability of 0.658. From the initial survey, 24236 thousand people with bachelor's degrees reported job satisfaction. The estimated total number of people with bachelor's degrees who would report salary satisfaction is 0.658 times 24236 thousand, which equals 15947.288 thousand, or approximately 16 million.

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