Question: There are 1254 machinery rebuilding and repairing companies in the
There are 1254 machinery rebuilding and repairing companies in the United States. A tool manufacturer wishes to survey a simple random sample of these firms to find out what proportion of them are interested in a new tool design. If the tool manufacturer would like to be 95% confident that the sample proportion is within 0.01 of the actual population proportion, how many machinery rebuilding and repairing companies should be included in the sample?
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