A random sample of size n=70 is taken from a finite population of size N=500 with mean

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A random sample of size n=70 is taken from a finite population of size N=500 with mean µ = - 20 and variance σ2=324.

a. Is it necessary to apply the finite population correction factor? Explain. Calculate the expected value and the standard error of the sample mean.

b. What is the probability that the sample mean is less than 210?

c. What is the probability that the sample mean lies between 215 and 230?

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Essentials Of Business Statistics Communicating With Numbers

ISBN: 9780078020544

1st Edition

Authors: Sanjiv Jaggia, Alison Kelly

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Question Posted: Jan 28, 2015 09:59 AM

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A random sample of size n=70 is taken from a finite population of size N=500 with mean

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a Yes it is necessary to apply the finite p...View the full answer

Essentials Of Business Statistics Communicating With Numbers

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