RESEARCH METHODOLOGY

STATISTICAL TECHNIQUES AND TOOLS

CONFIDENCE INTERVALS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What can you do to reduce the margin of error?
A
increase the confidence level
B
decrease the confidence level
C
increase sample size
D
decrease sample size
Explanation: 

Detailed explanation-1: -Reduce the data variability. This will lessen the margin of error, as the less data variation you have, the more accurately you can estimate a parameter surrounding the population. Enlarge your sample size. Use a lower confidence level.

Detailed explanation-2: -A 90 percent level can be obtained with a smaller sample, which usually translates into a less expensive survey. To obtain a 3 percent margin of error at a 90 percent level of confidence requires a sample size of about 750. For a 95 percent level of confidence, the sample size would be about 1, 000.

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