Suppose a random sample of size 55 is selected from a population with o = 8. Find the value of the standard error of the mean in each of th following cases (use the finite population correction factor if appropriate). a. The population size is infinite (to 2 decimals). b. The population size is N = 50,000 (to 2 decimals). C. The population size is N = 5000 (to 2 decimals). d. The population size is N = 500 (to 2 decimals).

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**Exercise: Calculating the Standard Error of the Mean**

Suppose a random sample of size \( n = 55 \) is selected from a population with a standard deviation \( \sigma = 8 \). 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 Box]

**b.** The population size is \( N = 50,000 \) (to 2 decimals).

[Answer Box]

**c.** The population size is \( N = 5,000 \) (to 2 decimals).

[Answer Box]

**d.** The population size is \( N = 500 \) (to 2 decimals).

[Answer Box]

*[Note: This exercise involves the use of statistical formulas to calculate the standard error of the mean, factoring in whether the population size is finite or infinite. Use the finite population correction factor for parts b, c, and d. You may click 'Check My Work' to verify your answers, with 3 attempts remaining.]*
Transcribed Image Text:**Exercise: Calculating the Standard Error of the Mean** Suppose a random sample of size \( n = 55 \) is selected from a population with a standard deviation \( \sigma = 8 \). 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 Box] **b.** The population size is \( N = 50,000 \) (to 2 decimals). [Answer Box] **c.** The population size is \( N = 5,000 \) (to 2 decimals). [Answer Box] **d.** The population size is \( N = 500 \) (to 2 decimals). [Answer Box] *[Note: This exercise involves the use of statistical formulas to calculate the standard error of the mean, factoring in whether the population size is finite or infinite. Use the finite population correction factor for parts b, c, and d. You may click 'Check My Work' to verify your answers, with 3 attempts remaining.]*
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