062. Controlling the Interval Width

In working through some of the problems encountered thus far in this chapter, you may have become somewhat alarmed by the width of the interval. Some concern might be caused by the fact that an interval was too wide and failed to localize the parameter with sufficient precision. Narrowing the interval will, of course, provide the researcher with a more exact estimation of the parameter’s value. There are Two common methods of narrowing the interval. Both, however, entail a cost of some kind. These procedures to achieve a more precise interval are

(1) Decreasing the level of confidence,

(2) Increasing the sample size.

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