Exercise 7-31 Algo

A random sample of size n = 54 is taken from a finite population of size N = 447 with mean = 245 and variance ² = 340. [You may find it useful to reference the z table.]

a-1. Is it necessary to apply the finite population correction factor?

multiple choice

• Yes
• No

a-2. Calculate the expected value and the standard error of the sample mean.(Round "expected value" to a whole number and "standard error" to 4 decimal places.)

b. What is the probability that the sample mean is less than 231? (Round final answer to 4 decimal places.)

c. What is the probability that the sample mean lies between 236 and 255? (Round final answer to 4 decimal places.)