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.

---

Definitions:

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thereby resetting the temporary accounts for the next period.

Retained Earnings

The portion of a company's profits that is kept or retained and not paid out as dividends to shareholders, often used for reinvestment in the business or to pay debt.

Accounting Period

A specific period of time for which financial information is reported, typically a fiscal year or quarter.

Expense Accounts

Accounts in the general ledger representing the various costs incurred by a company in the course of its operations, excluding product cost.