Question

Suppose a random sample of size 60 is selected from a population with sigma=12. Find the value of the standard error of the mean in each of the following cases (use the finite population correction factor if appropriate). a. The population size is infinite (to 2 decimals). b. The population size is N=50,000 (to 2 decimals). c. The population size is N=5000 (to 2 decimals). d. The population size is N=500 (to 2 decimals).

Answer 1

Solution:

Given:

n = 60

We have to find the value of the standard error of the mean .

Part a) The population size is infinite

if population size is infinite , then no need to use  the finite population correction factor.

Part b) The population size is N=50,000

Since population size is finite ,we use the finite population correction factor .

Part c) The population size is N=5000

Part d) The population size is N=500