0730 eBook To estimate the mean age for a population of 4000 employees, a simple

Question

0730 eBook To estimate the mean age for a population of 4000 employees, a simple random sample of 40 employees is selected. a. Would you use the finite population correction factor in calculating the standard error of the mean? Explain. No. 4000 is a lorge enough population sire to be consldered infinite b. If the population standard devation is o 8.2 years, compute the standard error both with and without the finite population coretiofactor (to 3 decimals) With correction factor, ?i- 3 Without correction factor, ??- What is the rational for ignoring the finite population correction factor whenever n/N S.05 The value of the standard error is just about the same both with and without the correction factor What is the probability that the sample mean age of the employees will be within +/- 2 years of the population mear c. Hide Feedback Partially Correct

Explanation / Answer

with correction factor:

without correction factor

c)

P(-/+ 2 year from mean ) =P(-2/1.297<Z<2/1.297) =P(-1.542<Z<1.542)=0.877

std errror '?x?=(?/?n)*?((N-n)/(N-1))= 1.290

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