Question: Why might a company use a lower confidence interval, such as 80%, rather than a high confidence interval, such as 99%? It is faster as

Why might a company use a lower confidence interval, such as 80%, rather than a high confidence interval, such as 99%?

It is faster as the sample size can be smaller

It is cheaper as the sample size needs to be larger

It is cheaper as more samples can be collected

It is faster as more samples can be collected in a shorter time

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