Q 8.46 - Elementary Statistics

Question

Explain the effect on the margin of error and hence the effect on the accuracy of estimating a population mean by a sample mean. 

Decreasing the confidence level while keeping the same sample size.

Step-by-Step Solution

Answer

Accuracy to estimate the population mean is increased. 

Step 1: Given Information

It is given that confidence is decreased and sample size remains constant.

Step 2: Explanation

As confidence is decreased and sample size remains constant, it results in decreasing margin of error. It leads to increase in corresponding accuracy for the estimation of population mean by sample mean.