Suppose N = 5,000, n = 64, and s = 24. a. Compare the size of the
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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.
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Statistics For Business And Economics
ISBN: 9780134506593
13th Edition
Authors: James T. McClave, P. George Benson, Terry Sincich
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