
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Question
The Bureau of Labor Statistics reports the previous month’s unemployment rate on the first
Friday of each month. Its estimate is based on a (basically) random sample of 60,000 individuals.
Suppose it reports an unemployment rate of 7.9%. Calculate (to one decimal place) a 95%
confidence interval for this estimate. Interpret your confidence interval.
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