Question 257015
The Federal Bureau of Labor Statistics surveyed 50,000 and found the unemployment rate to be 5.8%. Find the margin of error for a 98% confidence and then construct to the 98% confidence interval for the population proportion p. 
a.Find the margin of error E. 
Round to the nearest three decimals
E = 2.3263*sqrt[0.058*0.942/50000] = 0.0024
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b.Construct a 98% confidence interval for the population proportion p of the unemployment rate.
98% CI: 0.058-0.0024 < p < 0.058+0.0024 
98% CI: 0.0556 < p < 0.0604
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cheers,
stan H.