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. 👍 0
  2. 👎 0
  3. 👁 2,940
  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. 👍 0
    2. 👎 0
  2. bnv

    1. 👍 0
    2. 👎 0
  3. D= 1.34

    1. 👍 0
    2. 👎 0

Respond to this Question

First Name

Your Response

Similar Questions

  1. 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

  2. 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

  3. 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

  4. 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

  1. statistics

    A simple random sample of 60 items resulted in a sample mean of 80. The population standard deviation is 15. a) Compute the 95 % confidence interval for the population mean. b) Assume that the same sample mean was obtained from a

  2. statistics

    A random sample of size 36 is taken from a population with mean 50 and standard deviation 5. Find P( < 51.5).

  3. math

    random sample of size 36 is taken from a population with mean 50 and standard deviation 5. Find P( x¯ < 51.5).

  4. 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

  1. statistics

    samples of size n=900 are randomly selected from the population of numbers (0 through 9) produced by a random-number generator, and the proportion of numbers greater than 5 is found for each sample. what is the shape distribution

  2. Algebra

    Suppose that the number of bacteria in a certain population increases according to a continuous exponential growth model. A sample of 1800 bacteria selected from this population reached the size of 2272 bacteria in five hours.

  3. 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

  4. stor

    Twitter: Suppose that the population proportion of Internet users whosay they use Twitter or a similar service to post updates about themselves or to see updates about others is 19%. Think about selecting random samples from a

You can view more similar questions or ask a new question.