Question: Key Fact 8.3 states that, for a fixed sample size, decreasing the confidence level improves the precision of the confidence interval estimate of and

Key Fact 8.3 states that, for a fixed sample size, decreasing the confidence level improves the precision of the confidence interval estimate of μ and vice versa.
a. Suppose that you want to increase the precision without reducing the level of confidence. What can you do?
b. Suppose that you want to increase the level of confidence without reducing the precision. What can you do?

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