If a decision maker desires a small margin of error and a high ...

[jayhills49]

If a decision maker desires a small margin of error and a high level of confidence, it is certain that the required sample size will be quite large.
 
  Indicate whether the statement is true or false

Question 2

Discuss the differences and similarities between statistical estimation and statistical hypothesis testing.
 
  What will be an ideal response?

[fdliggud]

Answer to Question 1

FALSE

Answer to Question 2

Both estimation and hypothesis testing fall under the main category of statistical procedures called inferential statistics. In both cases, we are attempting to better understand the population of interest by examining the data in a sample from the population. With estimation, we begin with a goal of estimating a population value such as a population mean. We don't have a preconception about what that value is. Instead, we look at a corresponding value for the sample (i.e., sample mean) and use that as our best guide to what the population value is. With hypothesis testing, we begin with a claim or idea (hypothesis) about what the population value is and then we use the corresponding sample value to either support or refute the claim or idea.