Question

Suppose that you are attempting to estimate the annual income of 1700 families. In order to use the infinite standard deviation formula, what sample size, n, should you use

Answer 1

Sample size should be less than 85

Explanation:

Sample size should be less than 85

Explanation:

To use the infinite standard deviation formula, n has to be <= (0.05)(1700)

n <= 85

So the sample size has to be less than 85

In another way too,

n = sample size

N = population size

For population, we multiply correction factor to the infinite standard deviation

F is <= 0.05

`n/{N} <0.05`

n<0.05x1700

n<85

Sample size should be less than 85