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 7%? A sample size of is needed. (Round up to the nearest whole number.)

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section11.4: Collecting Data
Problem 3E
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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 7%?
A sample size of is needed.
(Round up to the nearest whole number.)
Transcribed Image Text: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 7%? A sample size of is needed. (Round up to the nearest whole number.)
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