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We use simulated Hubble parameter data in the redshift range 0 z 2 to explore the role and power of observational H (z) data in constraining cosmological parameters of the CDM model. The error model of the simulated data is empirically constructed from available measurements and scales linearly as z increases. By comparing the median figures of merit calculated from simulated datasets with that of current type Ia supernova data, we find that as many as 64 further independent measurements of H (z) are needed to match the parameter constraining power of SNIa. If the error of H (z) could be lowered to 3%, the same number of future measurements would be needed, but then the redshift coverage would only be required to reach z = 1. We also show that accurate measurements of the Hubble constant H₀ can be used as priors to increase the H (z) data's figure of merit.
Ma et al. (Mon,) studied this question.