In: Math
Suppose a random sample of size 40 is selected from a population with = 11. Find the value of the standard error of the mean in each of the following cases (use the finite population correction factor if appropriate).
Solution,
Given that,
n = 40
= 11
a)
=
/
n = 11 /
40 = 1.74
b) N = 50000
= (
N
- n / N - 1) *
/
n
= (
50000
- 40 / 50000 - 1) * 11/
40
= 1.74
c) N = 5000
= (
N
- n / N - 1) *
/
n
= (
5000
- 40 / 5000 - 1) * 11 /
40
= 1.73
d) N = 500
= (
N
- n / N - 1) *
/
n
= (
500
- 40 / 500 - 1) * 11 /
40
= 1.67