To estimate the proportion of unemployed workers in panama, Finance Basics

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To estimate the proportion of unemployed workers in panama

To estimate the proportion of unemployed workers 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?

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Finance Basics: To estimate the proportion of unemployed workers in panama

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