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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. How many randomly selected employers must we contact in order to create an estimate in which we are 95% confident with a margin of error of 8%? A sample size of is needed. (Round up to the nearest whole number.)

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. How many randomly selected employers must we contact in order to create an estimate in which we are 95% confident with a margin of error of 8%? A sample size of is needed. (Round up to the nearest whole number.)

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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**Estimating Sample Size for Employer Survey** 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. How many randomly selected employers must we contact in order to create an estimate in which we are 95% confident with a margin of error of 8%? [ ... ] A sample size of [ ] is needed. (Round up to the nearest whole number.) --- **Explanation:** This prompt outlines a common statistical problem of determining the sample size needed to achieve a desired confidence level and margin of error in a survey. In this case, the task is to estimate the percentage of businesses planning to hire within a given timeframe. No graphs or diagrams are present.
Transcribed Image Text:**Estimating Sample Size for Employer Survey** 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. How many randomly selected employers must we contact in order to create an estimate in which we are 95% confident with a margin of error of 8%? [ ... ] A sample size of [ ] is needed. (Round up to the nearest whole number.) --- **Explanation:** This prompt outlines a common statistical problem of determining the sample size needed to achieve a desired confidence level and margin of error in a survey. In this case, the task is to estimate the percentage of businesses planning to hire within a given timeframe. No graphs or diagrams are present.
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