Question

Suppose a simple random sample of size 55 is selected from a population with σ=8. Find the value of the standard error of the mean in each of the following cases (use the finite population correction factor if appropriate).

a. The population size is infinite (to 2 decimals)

Answer 1

The standard error of the mean in this scenario is approximately 1.08.

Step-by-step explanation:

The standard error of the mean can be determined using the formula:

Standard Error of the Mean = σ / sqrt(n)

Given that σ (population standard deviation) is 8 and the sample size (n) is 55, we can calculate the standard error of the mean:

Standard Error of the Mean = 8 / sqrt(55) ≈ 1.08 (to 2 decimal places)

Therefore, the value of the standard error of the mean in this case is approximately 1.08.