1. For a given sample average and sample standard deviation, why does the size of the confidence interval increase as the level of confidence increases? That is, as our confidence increases from 90% to 95% to 99%, why does the confidence interval grow wider? 2. For a given sample average and sample standard deviation and level of confidence, why does the confidence interval decrease as the number of observations increases?
1. For a given sample average and sample standard deviation, why does the size of the confidence interval increase as the level of confidence increases? That is, as our confidence increases from 90% to 95% to 99%, why does the confidence interval grow wider?
2. For a given sample average and sample standard deviation and level of confidence, why does the confidence interval decrease as the number of observations increases?
3. Given your responses in (1) and (2), what insights does this provide with regards to generating more precise estimates of the
4. Given your response in (3), what is a possible constraint on this potential course of action?
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For a given sample average and sample standard deviation we have to determine if the confidence interval increases or decreases.
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