4
AssignmentMultiple Choice

Scope of Inference

Question 4 • VA-Probability and Statistics

The manager of the marbles store wants to increase the precision of the estimate of the true mean dollar amount of all purchases made by customers at his store that day.Which sample size will give the manager the greatest precision of the estimate of the true mean dollar amount of all purchases made by customers at his store that day?

Answer
A
20
B
30
C
40
D
50

Explanation

A larger sample size generally gives a more precise estimate of the population mean because it reduces the amount of sampling variability. Of the choices, a sample size of 50 is the largest, so it will give the greatest precision.

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