6.3 Sample Variance and Standard Error: You encounter a deck of Martian playing cards. There are 87 cards in the deck. You cannot read Martian, and so the meaning of the cards is mysterious. However, you notice that some cards are blue, and others are yellow. (a) You shuffle the deck, and draw one card. You repeat this exercise 10 times, replacing the card you drew each time before shuffling. You see 7 yellow and 3 blue cards in the deck. As you know, the maximum likelihood estimate of the fraction of blue cards in the deck is 0.3. What is the standard error of this estimate? (b) How many times would you need to repeat the exercise to reduce the standard error to 0.05?

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