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. According to a recently published study on the current economy, only 35% of businesses plan to hire new additional employees in the next 60 days. How many randomly selected employers must we contact in order to create an estimate in which we are 98% confident with a margin of error of 2%.

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2-Proportion Test

In a 2-proportion test, two separate proportions are measured at the same time, and their similarity is evaluated. It is also known as a 2-proportion z-test, and a comparison of two different proportions is done in this method.