Question: 49. Using Finite Population Correction Factor This section presented Formulas 7-2 and 7-3, which are used for determining sample size. In both cases we assumed

49. Using Finite Population Correction Factor This section presented Formulas 7-2 and 7-3, which are used for determining sample size. In both cases we assumed that the population is infinite or very large and that we are sampling with replacement. When we have a relatively small population with size N and sample without replacement, we modify E to include the finite population correction factor shown here, and we can solve for n to obtain the result given here. Use this result to repeat Exercise 44, assuming that we limit our population to 1250 Toyota Corolla buyers in one region.

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