The purpose of the finite population correction factor for the standard error of the mean is to reflect the fact that the ___________________ ___________.
A) population standard deviation is lower for a finite population when compared to an infinite one
B) sampling error is lower for a finite population when compared to an infinite one
C) population standard deviation is higher for a finite population when compared to an infinite one
D) sampling error is higher for a finite population when compared to an infinite one
Question 2
A random sample of 30 business students required an average of 43.4 minutes to complete a statistics exam. Assume that the population standard deviation to complete the exam was 8.7 minutes.
The margin of error for a 98 confidence interval around this sample mean is ________.A) 2.04
B) 2.62
C) 3.12
D) 3.70
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