THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 15

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
In taking a sample of n observations from a population of N members,the variance of the sampling distribution of the sample means is
=

.The quantity
is called the finite population correction factor.
-Explain why the result for possible magnitudes of the finite population correction factor,for samples of n =15 observations from populations of N = 15,30,60,100,500,1,000,5,000,and 10,000 members,is precisely what one should expect on intuitive grounds.

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Definitions:

Unity-of-command Principle

A management principle stating that each employee should receive orders from only one superior to avoid confusion and conflict.

Organisation Structures

The hierarchical arrangement of lines of authority, communications, rights, and duties within a company that determines how roles, power, and responsibilities are assigned, controlled, and coordinated.

Decision-making Authority

The power or right delegated to an individual or group to make choices that will affect outcomes within an organization.

Centralised

A structural approach in organisations where decision-making authority is concentrated at the top levels of management.