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The U.S. Department of Labor and Statistics released the current unemployment rate of 5.1% for the month in the U.S. and claims the unemployment has not changed in the last two months. However, the states’ statistics reveal that there is a decrease in the U.S. unemployment rate. A test on unemployment was done on a random sample size of 950 and found unemployment at 3.7%. Find a 98% confidence interval for the true unemployment rate based on this sample Interpret the interval and give your conclusion about the U.S. governments claim

The U.S. Department of Labor and Statistics released the current unemployment rate of 5.1% for the month in the U.S. and claims the unemployment has not changed in the last two months. However, the states’ statistics reveal that there is a decrease in the U.S. unemployment rate. A test on unemployment was done on a random sample size of 950 and found unemployment at 3.7%. Find a 98% confidence interval for the true unemployment rate based on this sample Interpret the interval and give your conclusion about the U.S. governments claim

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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The U.S. Department of Labor and Statistics released the current unemployment rate of 5.1% for the month in the U.S. and claims the unemployment has not changed in the last two months. However, the states’ statistics reveal that there is a decrease in the U.S. unemployment rate. A test on unemployment was done on a random sample size of 950 and found unemployment at 3.7%.

  • Find a 98% confidence interval for the true unemployment rate based on this sample
  • Interpret the interval and give your conclusion about the U.S. governments claim
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