If we were to graph the relationship of sample size (x axis)to sample accuracy (y axis), we would notice that:
A) There is a linear relationship between size and accuracy.
B) Accuracy increases quickly, up to about sample size 500, and then accuracy levels off with relatively small gains made even when sample size is increased to as much as 2,000.
C) Accuracy increases quickly, up to about sample size 5,000, and then accuracy levels off with relatively small gains made even when sample size is increased to as much as 200,000.
D) Accuracy increases quickly, up to about sample size 50, and then accuracy levels off with relatively small gains made even when sample size is increased to as much as 100.
E) We cannot graph sample size and accuracy because we must also include the level of confidence and the variability within the sample data.

Question

Quizplus · Accepted Answer

This is known as the Law of Large Numbers, which states that as the sample size increases, the sample mean will get closer to the true population mean, but eventually, the gain in accuracy from increasing sample size becomes minimal. This leveling off occurs around a sample size of 500 for most situations.

If We Were to Graph the Relationship of Sample Size