If a barrel has the capacity to hold 75 gallons how many gallons does it contain when it is 3/5 full
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Answer:
So if you increase the sample size used to construct a given confidence interval, the confidence interval will be narrower, that is, more precise.
Step-by-step explanation:
The sample size is important to find the margin of errror of a confidence interval.
The margin of error is given by a formula in the following format:
In which c is the critical value(depends on the distribution used, can be T or Z), s is the standard deviation(of the sample or the population) and n is the size of the sample.
As n increases, M decreases, which leads to a lower margin of error.
The lower the margin of error, the more precise the interval is.
So if you increase the sample size used to construct a given confidence interval, the confidence interval will be narrower, that is, more precise.