1- We have calculated a 95% confidence interval and would prefer for our next confidence interval to...
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Question:
1- We have calculated a 95% confidence interval and would prefer for our next confidence interval to have a smaller margin of error without losing any confidence. In order to do this, we can:
Change the critical value to a smaller number.
Change the critical value to a larger number.
Take a smaller sample.
Take a larger sample.
2- We have calculated a confidence interval based on a sample of size n = 80. Now we want to get a better estimate with a margin of error that is only one-fourth as large as the previous margin of error. How large does our new sample need to be?
20
160
320
1280
1600
Related Book For
Statistics for Business and Economics
ISBN: 978-0132930192
8th edition
Authors: Paul Newbold, William Carlson, Betty Thorne
Posted Date: