There is concern that too many newly created jobs in the economy are low paying service industry positions. In a random sample of 1500 newly created positions (out of a total of approximately 130,000 new jobs), 810 could be accurately classified as low paying service industry positions.
a. Use this sample result to construct the 95% confidence interval estimate of the overall percentage of new jobs that could be so classified.
b. Identify the standard error term and the margin of error term in the interval.