Examlex
Suppose a 95% confidence interval for μ turns out to be (1,000,2,100) .To make more useful inferences from the data,it is desired to reduce the width of the confidence interval.Which of the following will result in a reduced interval width?
Economic Efficiency
Economic efficiency occurs when the allocation of resources maximizes the total net benefit received by all individuals in the economy.
Constitutional Rules
The fundamental principles and established precedents according to which a state or other organization is governed.
Economic Efficiency
A state in which resources are allocated in the most effective manner, maximizing the production of goods and services without wasting resources.
Representative Democracy
A system of government where citizens elect representatives to make decisions and enact laws on their behalf.
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