Question

Suppose that in planning a study you calculate the margin of error and decide that it is too large. Specifically, you would like it to be one-half as large. A reasonable strategy for achieving the smaller margin of error would be to:

decrease the population standard deviation by one-half.

double the sample size.

include four times as many observations in your sample.

make the confidence level one-half as large.

detailed explanation please!!!Thanks!!!

Answer 1

The margin of error is given by the following formula:

We need the new margin of error to be one-half as large i.e. 0.5 M.E

This can be achieved by:

OR

Two correct answers:

Hence on decrease the population standard deviation by one-half. we can get the M.E to be half as before.

Also on include four times as many observations in your sample, we can get the M.E to be half as before

Please do upvote if you are satisfied! Let me know in the comments if anything is not clear. I will reply ASAP!