with the sheets grouped enter the sum function in cell with the sheets grouped e

Question

with the sheets grouped enter the sum function in cell with the sheets grouped enter the sum function in cell with the sheets grouped enter the sum function in cell BUSINESS STATISTICS QUIZ #2 1 Point Each You are doing a study and know the population is 5,000. However, a study was done on a sample of 500. If we increase the sample size to 700, we can expect: a) The sample result will be exactly the same result as if we used the population for the 1. study b) The margin of error for the sample will increase c) The variability of the population will change d) The probability of the sample replicating the population will decrease e) Produce none of the above effects If we are doing a study on a sample and we increase the width of the interval, everything else remaining the same, we can expect the probability of the sample to a) Decrease b) Increase c) Cannot be determined only increasing the interval d) Have no effect

Explanation / Answer

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1) C

As a sample size increases, sample variance (variation between observations) increases. The standard error of the mean is the standard deviation of your estimate of the mean. The standarderror of the mean (i.e., the precision of your estimate of the mean) does get smaller as sample size increases.

The population mean of the distribution of sample means is the same as the population mean of the distribution being sampled from. ... Thus as the sample size increases, the standard deviation of the means decreases; and as the sample sizedecreases, the standard deviation of the sample means increases.

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