8.96 Brexit In February 2016, a report was published in The Guardian. According to it, in a survey of 700 British and German firms by the Bertelsmann Foundation, 29%

of them said they would either reduce capacities in the United Kingdom or relocate altogether in the event of a British exit or “Brexit” (the possibility that Britain would withdraw from the European Union).

a. Find the standard error of the population proportion.

b. Calculate the size of a random sample needed to estimate this proportion to within 0.01 with a 95% level of confidence.