Question: In order to estimate the total weight of rice of 100 bags, a sample of 25 bags was weighted, giving the average weight of 50 kg. If the population standard deviation is 1.5 kg, estimate the total weight of 100 bags and find the standard error of the estimate.
According to me, Total weight= $ 50\times 100=5000$ and Standard error=$\frac{1.5}{\sqrt{25}}\sqrt{\frac{100-25}{100-1}}=0.2611$
Am I right? If not, then please guide me to the proper direction.