Transcription of 8.7: Estimation and Sample Size Determination for …
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8.7: Estimation and Sample Size Determination for …
: Estimation and Sample size Determination for Finite PopulationsCD8-1 FIGURE interval estimate forthe mean sales invoice amountwith the finite populationcorrection for Saxon : Estimation AND Sample size Determination FOR FINITE POPULATIONSE stimating the MeanIn section thefinite population correction (fpc) factoris used to reduce the standard errorby a value equal to. When developing confidence interval estimates for popu-lation parameters, the fpc factor is used when samples are selected without replacement. Thus,the (1 ) 100% confidence interval estimate for the mean is calculated as in Equation( ).CONFIDENCE INTERVAL FOR A MEAN ( UNKNOWN) FOR A FINITE POPULATION( )To illustrate the finite population correction factor, refer to the confidence interval estimate forthe mean developed for Saxon Plumbing Company in section Suppose that in this month thereare 5,000 sales invoices.
Example 8.10 ESTIMATING THE MEAN FORCE FOR INSULATORS CD8-2 CD MATERIAL In Example 8.3, a sample of 30 insulators was selected. Suppose a population of 300 insulators were
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