A sample of 100 components is drawn, and a 95% confidence interval for the proportion defective specifies this proportion to within ±0.06. To get a more precise estimate of the number defective, the sample size will be increased to 400, and the confidence interval will be recomputed. What will be the approximate width of the new confidence interval? Choose the best answer: a) ±0.015 b) ±0.03 c) ±0.06 d) ±0.12 e) ±0.24

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.