Question: A random sample of size n=70 is taken from a finite population of size N=500 with mean = - 20 and variance 2=324. a.

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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