The issues surrounding the levels and structure of executive compensation have gained added prominence in the wake ofthe financial crisis that erupted in the fall of 2008. based on the 2006 compensation data obtained from the securities andexchange commission (sec) website, it was determined that the mean and the standard deviation of compensation forthe 500 highest paid ceos in publicly traded us. companies are $10.32 million and 59.78 million, respectively. an analystrandomly chooses 32 ceo compensations for 2006.a. is it necessaryto apply the finite population correction factor? explain. b. is the sampling distribution of the sample mean approximately normally distributed? explain. c. calculate the expected value and the standard error of the sample mean. d. what is the probability that the sample mean is more than 512 million?