We Have Calculated a 95% Confidence Interval and Would Like $z ^ { * }$

question 19

Multiple Choice

We have calculated a 95% confidence interval and would like our next
Confidence interval to have a smaller margin of error without losing any
Confidence. In order to do this, we can I. change the $z ^ { * }$ value to a smaller number.
II. take a larger sample.
III. take a smaller sample.

• A) I only
• B) II only
• C) III only
• D) I and II
• E) I and III

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Definitions:

Monetary Policy

Actions taken by a country's central bank to control the money supply and interest rates in order to influence economic activity, such as inflation, employment, and economic growth.

Fiscal Policy

Government adjustments to its spending levels and tax rates to influence a nation's economy.

Lag

Lag refers to a delay that occurs between the cause and effect of an economic policy or other measured variable in the analysis of data.

Income Effect

The change in an individual's or economy's income and how that change will affect the quantity demanded of a good or service.