Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 4 An 95% confidence interval for the average salary of all CEOs in the electronics industry was constructed using the results of a random

QUESTION 4

An 95% confidence interval for the average salary of all CEOs in the electronics industry was constructed using the results of a random survey of 45 CEOs. The interval was ($139,134,$154,365). To make more useful inferences from the data, it is desired to reduce the width of the confidence interval. Which of the following will resulting a narrower confidence interval for sure?

A.

Increase the sample size and increase the confidence level

B.

Increase the sample size and decrease the confidence level

C.

Decrease the sample size and increase the confidence level

D.

Decrease the sample size and decrease the confidence level

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Mathematics questions

Question

Describe a two-matched-groups design. How is the matching done?

Answered: 1 week ago