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When calculating the sample error for an SRS with no finite population correction factor there are...

When calculating the sample error for an SRS with no finite population correction factor there are three main components. Name and describe the three components. Give a simple formula of how they combine to estimate the sample error

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Answer #1

The three main components to calculate sample error are,

1. Critical value of statistic - It is critical value of the sampling distribution at a given confidence level

2. Standard deviation - It is population or sample standard deviation of the parameter of interest

3. Sample size - Total number of observations to estimate the parameter.

Sample Error = z *

where

z is critical value of standard normal distribution at a given confidence level

is the population standard deviation

n is the sample size

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