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When a population is finite, the formula that determines the standard error of the mean o- needs to be adjusted. If N is the size
When a population is finite, the formula that determines the standard error of the mean o- needs to be adjusted. If N is the size of the population and n is the size of N-n N - n the sample (where n 2 0.05N), then the standard error of the mean is of = n N - 1 . The expression N- 1 is called the finite population correction factor. Use the finite population correction factor to construct the confidence interval for the population mean described below. C = 0.95 x =37.4 0 = 2.5 N = 300 n = 25 The 95% confidence interval for the population mean is (OO) (Round to two decimal places as needed.)
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