Precision and confidence are interrelated and with a given size sample, increasing one will
A) decrease the other
B) increase the other
C) multiple the other
D) divide the other

Question

Quizplus · Accepted Answer

Precision and confidence are inversely related, meaning that increasing one will decrease the other. In statistical terms, precision is measured by the standard deviation of the data, and confidence is measured by the margin of error. As the standard deviation increases, the margin of error also increases, resulting in lower confidence in the data. Likewise, decreasing the standard deviation increases the precision but decreases the margin of error and therefore increases confidence.

Precision and Confidence Are Interrelated and with a Given Size