Suppose a 95% Confidence Interval for Has Been Constructed

question 169

Multiple Choice

Suppose a 95% confidence interval for has been constructed.If it is decided to take a larger sample and to decrease the confidence level of the interval,then the resulting interval width would_____ .(Assume that the sample statistics gathered would not change very much for the new sample. )

• A)be larger than the current interval width
• B)be narrower than the current interval width
• C)be the same as the current interval width
• D)be unknown until actual sample sizes and reliability levels were determined

---

Definitions:

Production

The process of creating, growing, manufacturing, or improving goods and services.

Production Possibility Curve

A graphical representation showing the maximum combination of goods and services that can be produced with a given set of resources and technology.

Comparative Advantage

The aptitude of any individual, corporation, or country for producing a good or offering a service at an opportunity cost that is reduced in comparison to that of the competition.

Specialization

The process of focusing resources on the activities that lead to the greatest efficiency and output in production or services.