Question: Finite Population Correction Factor If a simple random sample of
Finite Population Correction Factor If a simple random sample of size n is selected without replacement from a finite population of size N, and the sample size is more than 5% of the population size (n > 0.05N), better results can be obtained by using the finite population correction factor, which involves multiplying the margin of error E by (N – n)/(N – 1). For the sample of 100 weights of M&M candies in Data Set 20 from Appendix B, we get x = 0.8565 g and s = 0.0518g. First construct a 95% confidence interval estimate of m assuming that the population is large, then construct a 95% confidence interval estimate of the mean weight of M&Ms in the full bag from which the sample was taken. The full bag has 465 M&Ms. Compare the results.
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