6.A simple random sample of size 36 is selected from a population of size 750. The sample mean is 318, and the sample standard deviation is found to be 30.a.Estimate the standard error of the mean.b.Develop an approximate 95% confidence interval for the population mean.ANS:a.4.9 (rounded)b.308.2 to 327.8 (rounded)7.A company has 600 employees. A random sample of 49 employees took a computer literacy test. The sample resulted in a mean score of 75 with a standard deviation of 21.
8.Simple random sampling has been used to obtain a sample of 81 elements from a population of size 500. The sample mean is 120, and the sample standard deviation is determined to be 36.9.From a population consisting of 8,000 elements, a sample of size 121 is selected. The sample has a mean of 4,000 and a standard deviation of 600.10.A random sample of 60 elements was selected from a population of size 400. The sample proportiona.Estimate the standard error of the proportion.b.Develop an approximate 95% confidence interval for the population proportion.ANS:a.0.052b.0.146 to 0.35411.Simple random sampling has been used to obtain a sample of n = 40 elements from a population of N=300. The sample proportion 12.From a population of 2000 accounts receivable, a simple random sample of 120 accounts is selected. Thirty-six of the accounts in the sample were overdue.
- Fall '15
- Microeconomics, c. nonprobabilistic