Finite population correction factor or fpcf), Mathematics

Assignment Help:

Finite Population Correction Factor Or Fpcf)

If a specified population is relatively of small size and sample size is more than 5 percent of the population then the standard error must be adjusted by multiplying it by the finite population correction factor as:

FPCF is described by   = 13_Finite Population Correction Factor Or Fpcf).png

 

Whereas N = population size

                 n = sample size

 

Illustration

A manager wants an estimate of sales of salesmen in his company. A random sample 100 out of 500 salesmen is chosen and average sales are found to be Shs. 75,000. If a sample standard deviation is Shs. 15000 then determines the population mean at 99 percent level of confidence

Solution

Now N = 500, n = 100,  x¯ = 75000 and S = 15000

Here

Standard error of mean

Sx¯ = (s/√n) * {2298_Finite Population Correction Factor Or Fpcf).png}

 

= (15,000/√100) * (√ {(500 - 100)/(500 - 1)})

= (15,000/10) * (0.895)

S= 1342.50 at 99 percent level of confidence

Population mean         = x¯ ± 2.58 S

                                    =shs 75000 ± 2.58(1342.50)

                                    =shs 75000 ± 3464

                                    = Shs 71536 to 78464


Related Discussions:- Finite population correction factor or fpcf)

Ratios, a doctor sees 3 boys to 5 girls in one week . If he sees 40 boys in...

a doctor sees 3 boys to 5 girls in one week . If he sees 40 boys in one day then how many girls does he see that day

Find the shortest weighted paths, 1. Answer the questions about the graph b...

1. Answer the questions about the graph below. a. Name one cycle that begins and ends at B. b. True/False - the graph is strongly connected.  If not, explain why not.

Relative measures of dispersion, Relative measures of dispersion Defi...

Relative measures of dispersion Definition of Relative measures of dispersion: A relative measure of dispersion is a statistical value that may be utilized to compare va

Multiply two radicals, Multiply following.  Assume that x is positive. ...

Multiply following.  Assume that x is positive.                  (3√x-√y)(2√x-5√y)   Solution                 (3√x-√y)(2√x-5√y)          =6√x 2 -15√x√y-2√x√y+5√y

Function that computes the product of two matrices, Write a function that c...

Write a function that computes the product of two matrices, one of size m × n, and the other of size n × p. Test your function in a program that passes the following two matrices t

Solve the form x2 - bx + c, The form x2 - bx + c ? This tutorial will ...

The form x2 - bx + c ? This tutorial will help you factor quadratics that look something like this: x 2 -7x + 12 (No leading coefficient; negative middle coefficient; p

Probability, joey asked 30 randomly selected students if they drank milk, j...

joey asked 30 randomly selected students if they drank milk, juice, or bottled water with their lunch. He found that 9 drank milk, 16 drank juice, and 5 drank bottled water. If the

Discrete-time signal, Determine the fundamental period of the following dis...

Determine the fundamental period of the following discrete-time signal: X(n) = 2sin(4n)π +π/4) + 5sin16n +4sin (20n +π/3)

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd