What is meant by a finite population and how can this affect the sampling distribution of a mean or a proportion?
Answer to relevant QuestionsA population of 500 values is distributed such that μ = $1000 and σ = $400. For a simple random sample of n = 200 values selected without replacement, describe the sampling distribution of the mean. Repeat Exercise 8.38, but with n = 30 observations in each sample. Repeat Exercise In 2009, the average fee paid by H&R Block tax preparation customers was $187. Assume that the standard deviation of fees was $60 but that we have no idea regarding the shape of the population distribution. a. What ...Of 500 vehicles sold by an auto dealership last month, 200 have a defect that will require a factory recall for dealer correction. For a simple random sample of n 5 50 of last month’s customers, what is the probability ...For a random variable that is normally distributed, with μ = 80 and σ = 10, determine the probability that a simple random sample of 25 items will have a mean that is a. Greater than 78. b. Between 79 and 85. c. Less than ...
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