What does an increase in sample size do?
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Works at Microsoft, Lives in Redmond, WA
As a sample size increases, sample variance (variation between observations) increases but the variance of the sample mean (standard error) decreases and hence precision increases.Aug 22, 2017
2023-06-21 10:28:57
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Lucas Ross
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As a sample size increases, sample variance (variation between observations) increases but the variance of the sample mean (standard error) decreases and hence precision increases.Aug 22, 2017