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A larger sample size will give more accurate answers but at a greater cost. The skill of a statistician is in determining the optimum sample size in the trade off between accuracy and cost. The costs are both in terms of the cost of collecting and processing additional information against the risk of getting the answer wrong.

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Q: Which is better to use larger sample size or smaller sample size?
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Related questions

Will margins of error for sample of size 80 be larger or smaller than those for sample size of 40?

They should be smaller for the sample size 80.


How does sample size affect the margin of error?

The larger the sample size, the smaller the margin of error.


Why would having a larger sample size be a better idea than having a samll sample size when doing an experiment?

less bias and error occur when sample size is larger


Why do smaller populations need larger sample sizes?

They do not. Population size does not affect the sample size. The variability of the characteristic that you are trying to measure and the required accuracy will determine the appropriate sample size.


Why is having a larger sample size be a better idea than having a small sample size when doing a experiment?

1. Better chance of uniform sample. 2. Material for confirmations if needed.


Describe how the sample size affects the standard error?

Standard error (which is the standard deviation of the distribution of sample means), defined as σ/√n, n being the sample size, decreases as the sample size n increases. And vice-versa, as the sample size gets smaller, standard error goes up. The law of large numbers applies here, the larger the sample is, the better it will reflect that particular population.


Does sample size affect survey result?

a larger the sample size will reduce the size of the confidence interval


How does a sample size impact the standard deviation?

If I take 10 items (a small sample) from a population and calculate the standard deviation, then I take 100 items (larger sample), and calculate the standard deviation, how will my statistics change? The smaller sample could have a higher, lower or about equal the standard deviation of the larger sample. It's also possible that the smaller sample could be, by chance, closer to the standard deviation of the population. However, A properly taken larger sample will, in general, be a more reliable estimate of the standard deviation of the population than a smaller one. There are mathematical equations to show this, that in the long run, larger samples provide better estimates. This is generally but not always true. If your population is changing as you are collecting data, then a very large sample may not be representative as it takes time to collect.


Does the standard deviation of x decrease in magnitude as the size of the sample gets smaller?

No. But a small sample will be a less accurate predictor of the standard deviation of the population due to its size. Another way of saying this: Small samples have more variability of results, sometimes estimates are too high and other times too low. As the sample size gets larger, there's a better chance that your sample will be close to the actual standard deviation of the population.


How does sample size effect the test statistic?

The larger the sample size, the more accurate the test results.


Is size 8 smaller or larger than a size 10?

smaller


How does sample size affect the size of your standard error?

The standard error should decrease as the sample size increases. For larger samples, the standard error is inversely proportional to the square root of the sample size.The standard error should decrease as the sample size increases. For larger samples, the standard error is inversely proportional to the square root of the sample size.The standard error should decrease as the sample size increases. For larger samples, the standard error is inversely proportional to the square root of the sample size.The standard error should decrease as the sample size increases. For larger samples, the standard error is inversely proportional to the square root of the sample size.