An analyst takes a random sample of 25 firms in the telecommunications industry and constructs a confidence interval for the mean return for the prior year. Holding all else constant, if he increased the sample size to 30 firms, how are the standard error of the mean and the width of the confidence interval affected? 
Definitions:
Independent Contractor
An individual who provides services to another entity under terms specified in a contract or agreement, without being legally considered an employee.
Insurance Contracts
Agreements between an insurance company and the insured, where the company agrees to compensate for specific losses in exchange for a premium.
Insurer
An entity that provides insurance coverage to individuals or organizations against financial loss.
Insured
A person or entity covered under an insurance policy, receiving financial protection against losses.
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