The closer we need an estimate to be to the true population,the smaller the sample that will be required,all else equal.

Question

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The closer we need an estimate to be to the true population value (i.e., the smaller the margin of error we are willing to accept), the larger the sample size required, all else being equal, to reduce the variability and increase the precision of the estimate.

The Closer We Need an Estimate to Be to the True