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To prepare a report on the economy analysts need to

To prepare a report on the economy, analysts need to estimate the percentage of businesses that plan to hire additional employees in next 60 days.

1. How many randomly selected employees must you contact in order to guarantee with a 92% confidence interval within no more than ± 5%?

2. If analysts believe that at most 20% of the firms are likely to be hiring, how many do they survey in order to guarantee with a 92% confidence interval with a margin of error of 0.05?

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Basic Statistics: To prepare a report on the economy analysts need to

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