A random sample of size n=70 is taken from a finite population of size N=500 with mean
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A random sample of size n=70 is taken from a finite population of size N=500 with mean µ = - 20 and variance σ2=324.
a. Is it necessary to apply the finite population correction factor? Explain. Calculate the expected value and the standard error of the sample mean.
b. What is the probability that the sample mean is less than 210?
c. What is the probability that the sample mean lies between 215 and 230?
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a Yes it is necessary to apply the finite p...View the full answer
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Related Book For
Essentials Of Business Statistics Communicating With Numbers
ISBN: 9780078020544
1st Edition
Authors: Sanjiv Jaggia, Alison Kelly
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