You use the finite population correction factor when
A)you sample without replacement and the sample size is larger than 5% of the population size.
B)you sample without replacement and the sample size is smaller than 5% of the population size.
C)you sample with replacement and the sample size is larger than 5% of the population size.
D)you sample with replacement and the sample size is smaller than 5% of the population size.

Question

Quizplus · Accepted Answer

The finite population correction factor is used when the sample is taken from a finite population and the sample size is a relatively large portion of the population (more than 5%). The correction factor adjusts the standard error to account for the reduced variability that may occur when sampling from a small population. This correction factor is not necessary if the sample is taken with replacement, as there is no effect on the population size. Therefore, option A is the correct choice.

You Use the Finite Population Correction Factor When