To estimate the mean age for a population of 4000 employees, a simple random sample of40 employees is selected.a. Would you use the finite population correction factor in calculating the standard errorof the mean? Explain.b. If the population standard deviation is s = 8.2 years, compute the standard error bothwith and without the finite population correction factor. What is the rationale forignoring the finite population correction factor whenever n/n ≤ .05?

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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.
b. If the population standard deviation is s = 8.2 years, compute the standard error both
with and without the finite population correction factor. What is the rationale for
ignoring the finite population correction factor whenever n/n ≤ .05?

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