1. To estimate the mean age for a population of 4000 employees, a simple random sample of 40 employees is selected. [3 Marks]

Would you use the finite population correction factor in calculating the standard error of the mean? Explain.

If the population standard deviation is o =8.2 years, compute the standard error both with and without the finite population correction factor. What is the

n

rationale for ignoring the finite population correction factor whenever

~ =

0.05 ?

c. What is the probability that the sample mean age of the employees will be within 2 years of the population mean age?