20. Hiring In preparing a report on the economy, we need to esti- mate the percentage of businesses that plan to hire additional employees in the next 60 days. a) 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 5%? b) Suppose we want to reduce the margin of error to 3%. What sample size will suffice? c) Why might it not be worth the effort to try to get an interval with a margin of error of only 1%?

20. Hiring In preparing a report on the economy, we need to esti- mate the percentage of businesses that plan to hire additional employees in the next 60 days. a) 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 5%? b) Suppose we want to reduce the margin of error to 3%. What sample size will suffice? c) Why might it not be worth the effort to try to get an interval with a margin of error of only 1%?

Name: P= 0.5 20. Hiring In preparing a report on the economy, we need to est
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Description: P= 0.5 20. Hiring In preparing a report on the economy, we need to esti-mate the percentage of businesses that plan to hire additionalemployees in the next 60 days.a) How many randomly selected employers must we contact inorder to create an estimate