If a Researcher Wishes to Increase the Confidence Level from 95

question 26

Multiple Choice

If a researcher wishes to increase the confidence level from 95% to 99%,what approximately will be the effect on sample size?

• A)The sample size will decrease in proportion to the increase in the confidence level.
• B)The ratio of the new sample size to the old is 3/2.
• C)The ratio of the new sample size to the old is 2/3.
• D)The ratio of the new sample size to the old is 9/4.
• E)The ratio of the new sample size to the old is 4/9.

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Definitions:

Direct Materials

Raw materials directly used in the production of goods, easily traceable to the product being manufactured.

Operating Income

The profit realized from a business's core operations after deducting operating expenses such as wages and cost of goods sold, but before taxes and interest.

Direct Labor

The cost of wages for those workers directly involved in the production of goods or services, not including support staff.

Overhead

General business expenses that are not directly attributable to a specific business activity, product, or service but are necessary for the business to operate.