A random sample of size n = 85 is taken from a finite population of size N = 479 with mean μ = 253 and variance σ2 = 436. [You may find it useful to reference the z table.] a-1. Is it necessary to apply the finite population correction factor? a-2. Calculate the expected value and the standard error of the sample mean. Show your work(Round “expected value” to a whole number and "standard error" to 4 decimal places.) a-2. What are the formulas in excel used to calculate a-2? b. What is the probability that the sample mean is less than 241? Show your work(Round “z” value to 2 decimal places, and final answer to 4 decimal places.) b-2. What is the formula to solve this in excel? c. What is the probability that the sample mean lies between 246 and 262? (Use rounded standard deviation. Round "z" value to 2 decimal places and final answer to 4 decimal places.) c-2. What is the formula to solve this in excel?
A random sample of size n = 85 is taken from a finite population of size N = 479 with
a-1. Is it necessary to apply the finite population correction factor?
a-2. Calculate the
a-2. What are the formulas in excel used to calculate a-2?
b. What is the probability that the sample mean is less than 241? Show your work(Round “z” value to 2 decimal places, and final answer to 4 decimal places.)
b-2. What is the formula to solve this in excel?
c. What is the probability that the sample mean lies between 246 and 262? (Use rounded standard deviation. Round "z" value to 2 decimal places and final answer to 4 decimal places.)
c-2. What is the formula to solve this in excel?
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