What is the effect on standard error, if a sample is taken from an infinite population of sample size is (i) Increased from 50 to 200 (ii) Decreased from 640 to 40
(i) If the sample size is increased from 50 to 200, the standard error will decrease. This is because as the sample size increases, the standard error decreases as well. A larger sample size provides more information and therefore results in a more reliable estimate of the population parameter.
(ii) If the sample size is decreased from 640 to 40, the standard error will increase. This is because as the sample size decreases, the standard error increases. A smaller sample size provides less information and therefore results in a less reliable estimate of the population parameter.