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In preparing a report on the economy, we need to estimate the percentage of businesses that plan to hire additional employees in the next 60 days.
a) How many randomly selected employers must we contact in order to create an estimate in which we are
9595%
confident with a margin of error of
99%?
b) Suppose we want to reduce the margin of error to
33%.
What sample size will suffice?
c) Why might it not be worth the effort to try to get an interval with a margin of error of
11%?
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