The National Compensation Survey (NCS) began publishing a series of profiles for prominent holidays, which provide the percent of workers with a paid holiday plan that receive paid time off (partial or full days) for specific
Memorial Day (HTML) (PDF)
Washington's Birthday (President's Day) (HTML)(PDF)
Martin Luther King, Jr. Birthday (HTML) (PDF)
Technical Information about Standard Errors for Holiday Profile Estimates
To assist users in ascertaining the reliability of the National Compensation Survey holiday profile data, standard errors of all published estimates are found in each profile. Standard errors provide users a tool to judge the quality of an estimate to ensure that it is within an acceptable range for their intended purpose.
Benefits data used in the holiday profile are derived from a sample survey used for the National Compensation Survey and thus, it is subject to sampling errors. Sampling errors are differences that occur between the results computed from a sample of observations and those computed from all observations in a population. Caution should be applied in using holiday profile estimates because they are only based on a subsample of the overall sample using collected establishments that provide workers with paid holidays. Estimates derived from subsamples using the same sample design may differ from each other.
The standard error is a measure of the variation among these differing estimates. It can be used to measure the precision with which an estimate from a particular sample approximates the expected result of all possible samples. The standard errors can be used to define a range or level of confidence (confidence interval) around an estimate. For instance, the 90 percent confidence level means that if all possible samples were selected and an estimate of a value and its sampling error were computed for each, then for approximately 90 percent of the samples, the intervals from 1.6 standard errors below the estimate to 1.6 standard errors above the estimate would include the "true" average value. For example, the 90 percent confidence interval for an estimate of 5.0 percent with a standard error of 1.1 percentage points would be 5.0 percent plus or minus 1.8 percentage points (1.6 standard errors times 1.1 percentage points) or 3.2 to 6.8 percent.
The chances are about 68 out of 100 percent that an estimate differs from the true population figure within one standard error. The chances are about 90 out of 100 percent that this difference would be within 1.6 standard errors. This means that in the example above, the chances are 90 out of 100 percent that the estimated index percent change is between 3.2 and 6.8 percent.
Comparative statements appearing in each holiday profile are statistically significant at the 90 percent level of confidence, unless otherwise indicated. This means that for differences cited, the estimated difference is greater than 1.6 times the standard error of the difference.
Last Modified Date: May 25, 2018