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)

Real number, if HCFof 657 and 963 is expressable in the form of 657x+963x-1...

if HCFof 657 and 963 is expressable in the form of 657x+963x-15findx

College Algebra, Find the center and radius of the circle whose equation is...

Find the center and radius of the circle whose equation is 3 x^2 - 8 x+ 3 y^2+ 4 y+ 2 = 0

Which number falls among 5.56 and 5.81, Which number falls among 5.56 and 5...

Which number falls among 5.56 and 5.81? If you add a zero to the end of 5.6 to get 5.60, it is simpler to see that 5.56

Triangles, The sides of a triangle are x^(2 )+x+1, 2x+1,x^2-1, prove that t...

The sides of a triangle are x^(2 )+x+1, 2x+1,x^2-1, prove that the largest angle is 120 degrees, and find range of x. Ans) The biggest side is x^(2) + x + 1 so findout the angl

Unipolar and bipolar boolean inputs, A 4-input Neuron has weights (1,-1,  0...

A 4-input Neuron has weights (1,-1,  0,  0.5.Calculate the network output when the following input vectors are applied. For calculation assume: a. f(net) = unipolar bina

Calculate the density of people per square mile, 1.  In 1900, a certain cou...

1.  In 1900, a certain country's population was 77,977,459 and it's area was 2,821,924 square miles, In 2000, the country's population was 283,575,229 and its area was 3,551,003 sq

Differentiation of a formula with two variables, I would like to calculate ...

I would like to calculate the high point of a mathematical formula with two unknown variables. At the same time I made the 1st derivation of the function. How can I best program th

Linear programming problem, I have a linear programming problem that we are...

I have a linear programming problem that we are to work out in QM for Windows and I can''t figure out how to lay it out. Are you able to help me if I send you the problem?

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