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1) The World Bank is examining how many times per year adults in a rural Tanzanian community spend travelling to financial institutions. To examine this,
1) The World Bank is examining how many times per year adults in a rural Tanzanian community spend travelling to financial institutions. To examine this, professionals take a simple random sample of 400 adults in the community. The mean time spent travelling to financial institutions per year within the sample is 250 hours, and the sample standard deviation is 34 hours. Overall, the community has 1,000 adults. a) Should we use the finite population correction factor to address this issue? Explain. b) Calculate a 99 percent confidence interval for the mean yearly travel time
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