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)

Permatuation and combination problem, A,B,C are natural numbers and are in ...

A,B,C are natural numbers and are in arithmetic progressions and a+b+c=21.then find the possible values for a,b,c Solution) a+b+c=21 a+c=2b 3b=21 b=7 a can be 1,2,3,4,5,6 c c

.fractions, what is the difference between North America''s part of the tot...

what is the difference between North America''s part of the total population and Africa''s part

Reason why we start division, Reasons why we start division : The reason w...

Reasons why we start division : The reason we start division by considering the digit in the leftmost place is efficiency and ease . For instance, suppose we divide 417 by 3, we

Logarithmic function:solve for x: 4 log x2, Solve for x: 4 log x = log (15 ...

Solve for x: 4 log x = log (15 x 2 + 16) Solution:              x 4 - 15 x 2 - 16 = 0                (x 2 + 1)(x 2 - 16) = 0                x = ± 4   But log x is

1 application of complex analysis in THERMODYNAMICS, Hi, this is EBADULLA ...

Hi, this is EBADULLA its about math assignment. 1 application of complex analysis used in thermodynamics. . what all uses are there in that... plz let mee know this answer.

Online tutoring, how can i find the online students ?

how can i find the online students ?

Differential equations, verify liouville''s theorem for y''''''-y''''-y''+...

verify liouville''s theorem for y''''''-y''''-y''+y=0

Estimate percent of the babies born among 6 and 8.5 pounds, 25% of babies b...

25% of babies born at Yale New Haven Hospital weigh less than 6 pounds and 78% weigh less than 8.5 pounds. What percent of the babies born at Yale New Haven Hospital weigh among 6

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