We Have Calculated a Confidence Interval Based on a Sample

question 19

Multiple Choice

We have calculated a confidence interval based on a sample of size n = 100. Now we want to get a
Better estimate with a margin of error that is only one-fourth as large. How large does our new
Sample need to be?

• A) 50
• B) 400
• C) 200
• D) 1600
• E) 25

---

Definitions:

Soviet Model

An economic and political system found in the former Soviet Union, characterized by state ownership of resources, central planning, and one-party rule.

Karl Marx

A 19th-century philosopher, economist, and socialist who analyzed the effects of capitalism and proposed a revolutionary class struggle leading to a society with no class distinctions.

Public Ownership

Ownership of assets by the government or a government entity, rather than by private individuals or organizations.

Laissez-faire

An economic system in which transactions between private parties are free from state intervention, including restrictive regulations, taxes, and tariffs.