Exhibit 16.1 Refer to Exhibit 16.1.Which of these factors does one need to consider when estimating sample size?
A)1,2
B)2,3
C)1,2,3
D)2,3,4
E)1,2,3,4

Question

Exhibit 16.1  Refer to Exhibit 16.1.Which of these factors does one need to consider when estimating sample size?
A)1,2 
B)2,3 
C)1,2,3 
D)2,3,4 
E)1,2,3,4

Quizplus · Accepted Answer

When estimating sample size, one needs to consider 1) the desired level of precision or margin of error, 2) the variability of the population, and 3) the desired level of confidence. Therefore, choice C, which includes factors 1-3, is the best answer. Factor 4 (the cost of obtaining a sample) may also be a consideration, but it is not always necessary to include in the calculation of sample size.