What does a smaller standard error (SE) indicate when selecting CMFs?

A smaller standard error (SE) indicates a higher precision in crash frequency predictions. In the context of selecting Crash Modification Factors (CMFs), precision is crucial because it provides confidence that the CMF will accurately reflect the true relationship between an intervention and its impact on crash frequency. A smaller SE suggests that the estimates derived from the data are closely clustered around the average, meaning that the variations in predicted crash frequencies are minimal and more dependable. This leads to more reliable predictions and sound decision-making in road safety practices.

In this scenario, options that suggest greater applicability, increased variability, or better accessibility do not directly relate to the precision of the estimates derived from the data, which is why they don't represent the essence of what a smaller standard error signifies.