Increasing sample size from 100 to 500 increases sample precision more than increasing sample size from 1,000 to 5,000.

Name: Increasing sample size from 100 to 500 increases sample precision more than increasing sample size from 1,000 to 5,000.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Increasing sample size from 100 to 500 results in a larger relative increase in precision compared to increasing from 1,000 to 5,000 due to the diminishing returns of precision gains as sample size grows.

Increasing Sample Size from 100 to 500 Increases Sample Precision