Bounds on the error of estimation

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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

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