Suppose N = 5,000, n = 64, and s = 24.
a. Compare the size of the standard error of x computed with and without the finite population correction factor.
b. Repeat part a, but this time assume n = 400.
c. Theoretically, when sampling from a finite population, the finite population correction factor should always be used in computing the standard error of x. However, when n is small relative to N, the finite population correction factor is close to 1 and can safely be ignored. Explain how parts a and b illustrate this point.