Company executives wish to estimate the dollar amount that customers spend in one shopping visit to their store. Initial tests were based on a small sample but now the executives double the sample size for a follow-up test. The main purpose of the larger sample is to...
A) reduce confounding due to other variables.
B) reduce response bias.
C) reduce non-response bias.
D) decrease the standard deviation of the sampling model.
E) decrease the variability in the population.

Question

Quizplus · Accepted Answer

Increasing the sample size will decrease the standard deviation of the sampling model, leading to a more precise estimate of the population parameter. The other options are not directly related to the increase in sample size, although reducing confounding due to other variables and reducing non-response bias can improve the quality of the data collected.

Company Executives Wish to Estimate the Dollar Amount That Customers