A Simple Random Sample of Size 36 Is Selected from a Population

question 29

Short Answer

A simple random sample of size 36 is selected from a population of size 750. The sample mean is 318, and the sample standard deviation is found to be 30.
a.Estimate the standard error of the mean.
b.Develop an approximate 95% confidence interval for the population mean.

---

Definitions:

Mutually Exclusive

Describes options or decisions that cannot be adopted or pursued at the same time.

Management Accept

The process of corporate leadership approving strategies, initiatives, or decisions based on their alignment with the organization's objectives and resource capabilities.

Required Rate of Return

The lowest yearly return rate on an investment that appeals enough to persuade people or corporations to invest in a specific venture or financial opportunity.

NPV

Net Present Value (NPV) is the calculation used to determine the current value of a series of future cash flows, discounted at the hurdle rate.