Question

6.32 Changes in sample size. Suppose that, in the
setting of the previous exer-

cise, you have the resources to contact 500 recent graduates. If
all respond, will

your margin of error be larger or smaller than $1000? What if only
50% respond?

Verify your answers by performing the calculations.

Answer #1

Suppose a random sample of size 50 is selected from a population
with σ = 12.
Find the value of the standard error of the mean in each of the
following cases. (Use the finite population correction factor if
appropriate. Round your answers to two decimal places.)
(a) The population size is infinite.
(b) The population size is N = 50,000.
(c) The population size is N = 5,000.
(d) The population size is N = 500.

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