When all other factors are held constant,as we increase the level of accuracy,the sample size and the cost of a marketing research survey are best characterized by which of the following?
A)The sample size will increase but the cost will decrease.
B)The sample size will decrease but the cost will increase.
C)The sample size and the cost of the survey will increase.
D)The sample size will remain the same but the cost will increase.
E)The sample size will decrease but the cost will remain the same.

Question

Quizplus · Accepted Answer

As we increase the level of accuracy, the need for a larger sample size increases as well since a larger sample size can help reduce variability and increase representativeness of the population. However, increasing the sample size also requires more resources, such as time, labor, and money, which increases the cost of the survey. Therefore, both the sample size and the cost of the survey will increase as we increase the level of accuracy.

When All Other Factors Are Held Constant,as We Increase the Level