A random sample of 60 elements was selected from a population of size 400. The sample proportion 
a.Estimate the standard error of the proportion.
b.Develop an approximate 95% confidence interval for the population proportion.
Definitions:
Reshoring
The process of bringing manufacturing and production back to a company's original country from overseas to benefit from lower costs, better quality control, or tighter supply chain management.
Firm's Product
The goods or services produced and offered by a business to its customers.
Economic Climate
The overall state and conditions of an economy, affecting business confidence, consumer spending, and financial markets.
Economies Of Scale
The cost advantage achieved when production becomes efficient, as the output increases, the average cost per unit decreases.
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