Solve the Problem $$\sqrt { \frac { N - n } { N - 1 } }$$

question 52

Multiple Choice

Solve the problem.
-When obtaining a confidence interval for a population mean in the case of a finite population of size N and a sample size n which is greater than 0.05N, the margin of error is multiplied by the following finite population correction factor: $$\sqrt { \frac { N - n } { N - 1 } }$$
Find the $95 \%$ confidence interval for the mean of 200 weights if a sample of 35 of those weights yields a mean of $\mathrm { lb }$ and $\mathrm { a }$ standard deviation of $23.2 \mathrm { lb }$ .

• A) \(140.3 \mathrm { lb } < \mu < 152.3 \mathrm { lb }\)
• B) \(138.6 \mathrm { lb } < \mu < 154.0 \mathrm { lb }\)
• C) \(137.9 \mathrm { lb } < \mu < 154.7 \mathrm { lb }\)
• D) \(139.3 \mathrm { lb } < \mu < 153.3 \mathrm { lb }\) .3

---

Definitions:

Unfair

An act or circumstance that is unjust, biased, or inequitable, often violating ethical standards or social norms.

Behavioral Economists

Specialists in a field of economics that explores how psychological, social, cognitive, and emotional factors affect the economic decisions of individuals and institutions.

Ultimatum Game

The ultimatum game is a game theory experiment where two players decide how to divide a sum of money; one proposes the division and the other can accept or reject it, where rejection means neither gets anything.

Market Transactions

The buying and selling activities that take place in the marketplace between buyers and sellers.