Economics (39)

Suppose a random sample of size 40 is selected from a population with = 9. 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).

1. 👍
2. 👎
3. 👁
1. 39) Suppose a random sample of size 40 is selected from a population with σ = 9. 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).
σ/√n
9/√40 = 1.42

b. The population size is N = 50,000 (to 2 decimals). No

n/N > 0.05
40/50000
0.0008 < 0.05
σ/√n * √(N-n)/N-1)

c. The population size is N = 5000 (to 2 decimals). No

​n/N > 0.05
40/5000
0.008 < 0.05
σ/√n * √(N-n)/N-1)

d. The population size is N = 500 (to 2 decimals). Yes

n/N > 0.05
40/500
0.08 > 0.05
σ/√n * √(N-n)/N-1)
1.42 * √(500-40)/(500-1)
1.42 * √460/499)
= 1.36

1. 👍
2. 👎
2. bnv

1. 👍
2. 👎
3. D= 1.34

1. 👍
2. 👎

Similar Questions

1. Math I need help ASAP!

1. which of the following is true of a random sample? a. it is the only way to sample a population. b. each member of the sample is a volunteer. c. it is always the easiest way to sample a population. d. each member of the

2. Statistics

You are interested in estimating the mean of a population. you plan to take a random sample from the population and use the samples mean as an estimate of population mean. Assuming that the population from which you select your

3. statistics

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). a. The

4. Math

Q1. A population has a mean of µ = 80 with σ = 20. a. If a single score is randomly selected from this population, how much distance, on average, should you find between the score and the population mean? 20 because the standard

1. Algebra

A random sample of size 15 taken from normally distributed population revealed a sample mean of 75 and a sampl variance of 25. The lower limit of 95% confidence interval for the population mean would equal

2. Stats

A random sample of size 100 is drawn from a population with a standard deviation of 10. If only 5% of the time a sample mean greater than 20 is obtained, the mean of the population is ______.

3. Government

1) The portion of the population selected to participate in a poll is known as the a. public b. population c. deliberative group d. sample e. focus group 2) A sample that does not overrepresent any portion of the population and

4. Math (Statistics)

PLEASE GET BACK TO ME ASAP!! 1) Use the given data to find the minimum sample size required to estimate the population proportion. Margin of error: 0.04; confidence level: 94%; q̂ unknown a. 486 *** b. 572 c. 553 d. 587 2) Use

1. statistics

In performing a hypothesis test, the null hypothesis is population mean = 6.9 and the alternative hypothesis is population mean ≠ 6.9, a random sample of 16 items is selected. The sample mean is 7.1 and the sample standard

2. Stats

Suppose a random sample of size 58 is selected from a population with σ = 9. 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

3. Math (Statistic)

Considered the sampling distribution of a sample mean obtained by random sampling from an infinite population. This population has a distribution that is highly skewed toward the larger values. a) How is the mean of the sampling

4. statistic

Suppose a random sample of 25 students is selected from a community college where the scores in the final exam (out of 125 points) are normally distributed, with mean equal to 112 and standard deviation equal to 12. Find the