Bounds on the error of estimation

Reference no: EM131026476

To estimate the proportion of unemployedworkers in Panama, an economist selected at random 400 persons from the working class. Of these, 25 were unemployed.

a. Estimate the true proportion of unemployed workers and place bounds on the error of estimation.

b. How many persons must be sampled to reduce the bound on the error of estimation to .02?

Reference no: EM131026476

Questions Cloud

Reflect on your own experiences as a child : Utilizing the concepts of temperament and attachment, reflect on your own experiences as a child, those of a child you know, or those of a fictional child featured in media.

Show that every element of v can be written as a sum w + c : In exercise (1), show that W is a subspace of V. Let { } be a basis of W. Show that { } is a basis of V.

Estimate the population mean : Past experience shows that the standard deviation of the yearly income of textile workers in a certain state is $400. How many textile workers would you need to sample if you wished to estimate the population mean to within $50.00, with probabilit..

Should the company implement one of the new technologies : What do you recommend? Should the company implement one of the new technologies? Why or why not? An operations analyst suggested that company employees shared a "dump on the clerks" mentality. Explain.

Bounds on the error of estimation : Estimate the true proportion of unemployed workers and place bounds on the error of estimation. How many persons must be sampled to reduce the bound on the error of estimation to .02?

Compare and contrast the biological and behaviorist theories : Compare and contrast the biological, behaviorist, cognitive, and social-cognitive theories an explanation of the strengths and limitations of each.

How to find the mass of a particle : How To Find The Mass Of A Particle In A Spectrometer In Which Two Particles Having The Same Charge And Velocity

How you can determine whether or not a client is suicidal : Explain how you can determine whether or not a client is suicidal. Explain how you would treat a suicidal client, produce ongoing assessments, and follow up with the client.

A system of three linear equation in three unknowns solution : A system of three linear equations in three unknowns has a unique solution if and only if its coefficient matrix is row equivalent to the 3x3 identity matrix.

User Account

All Pages