• 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?