Question

You collect a random sample of size n from a population and calculate a 98% confidence interval. Which of the following strategies produces a new confidence interval with a decreased margin of error?

A: Use a 99% confidence level.
B: Use a 95% confidence level.
C: Decrease the sample size.
D: Use the same confidence level, but compute the interval n times. Approximately 2% of these intervals will be larger.
E: Nothing can guarantee that you will obtain a larger margin of error. You can only say that the chance of obtaining a larger interval is 0.02.

Answer 1

B: Use a 95% confidence level.

Explanation:

In the case when the random sample size from a population is collected and it determined the 98% confidence interval so that decrease the margin of error is to use a 95% confidence interval as it is needed to have a less critical value

So according to the given options, the option B is correct