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.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
