Chapter 19, Problem 32E

To determine

To find out how many randomly selected employers will they need to contact.

Answer to Problem 32E

  $1037$ .

Explanation of Solution

It is given in the question that in preparing a report on the economy, we need to estimate the percentage of business that plan to hire additional employees in the next $60$ days. Thus, to find how many randomly selected employers will they need to contact, we have,

  $\begin{array}{l}0.04=2.576\times \sqrt{\frac{0.5\times 0.5}{n}}\\ \text{Solve for }n\\ \Rightarrow 0.0155=\sqrt{\frac{0.5\times 0.5}{n}}\\ \Rightarrow n=1037\\ (\text{Assume that }p=0.5)\end{array}$

Thus, $1037$ selected employers they will need to contact.