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Statistics (Check Answer)

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Hi can someone check my answer. I'm not sure why the computer keeps marking it wrong.

**Suppose a random sample of size 50 is selected from a population with σ = 10. Find the value of the standard error of the mean in each of the following cases (use the finite population correction factor if appropriate).

Question: The population size is N = 500 (to 2 decimals).

My work:
1.4142 sqrt ( 499/450) = 1.49

I keep getting 1.49 but the computer is marking it wrong. I'm not sure what I am doing incorrectly. Thanks for the help.

  • Statistics (Check Answer) -

    Some notes on finite population correction factor:

    If the population is small and the sample is large (more than 5% of the small population), use the finite population correction factor.

    For standard error of the mean, use:

    If you need to adjust for the finite population correction factor, use:
    sd/√n * √[(N-n)/(N-1)]
    N = number in population
    n = number in sample

    Is the sample size of 50 more than 5% of the population size of 500? Yes, it is, so use the finite population correction factor.

    With your data:
    10/√50 * √[(500-50)/(500-1)] =
    1.4142 * 0.9496 = 1.34

    Check these calculations.
    I hope this helps.

  • Statistics (Check Answer) -

    Thank you so much for the help! I completely overlooked using the population correction factor.

  • Statistics (Check Answer) -

    You are welcome!
    I'm glad the explanation helped.

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