Question
upstudy study bank question image url

A finite population correction factor is needed in computing the standard deviation of the sampling distribution of sample means irrespective of the size of the sample. whenever the sample size is more than \( 5 \% \) of the population size. whenever the population is infinite. whenever the sample size is less than \( 5 \% \) of the population size.

Ask by Jimenez John. in the United States
Mar 16,2025

Upstudy AI Solution

Tutor-Verified Answer

Answer

The finite population correction factor is needed when the sample size is more than 5% of the population size.

Solution

Sign in to Unlock Answers for Free!

A Learning Platform Trusted by Millions of Real Students and Teachers.

star-icon Unlock

Answered by UpStudy AI and reviewed by a Professional Tutor

Beyond the Answer

The finite population correction factor (FPC) becomes essential when the sample size is significant relative to the population size. Specifically, if the sample size exceeds \( 5 \% \) of the total population, the variance of the sampling distribution should be adjusted to account for the reduced variability in the sample. This correction helps ensure that the standard deviation calculations more accurately reflect the true variability of the population. In practical scenarios, using the FPC can significantly impact the results of survey sampling or quality control processes. For instance, if only a small fraction (less than \( 5 \% \)) of a city’s population is surveyed for their opinions, the sample's standard deviation can be computed without worry. However, if the number of respondents approaches a sizable chunk of the population, applying the FPC becomes crucial for effective analysis and decision-making.

Related Questions

Latest Statistics Questions

Try Premium now!
Try Premium and ask Thoth AI unlimited math questions now!
Maybe later Go Premium
Study can be a real struggle
Why not UpStudy it?
Select your plan below
Premium

You can enjoy

Start now
  • Step-by-step explanations
  • 24/7 expert live tutors
  • Unlimited number of questions
  • No interruptions
  • Full access to Answer and Solution
  • Full Access to PDF Chat, UpStudy Chat, Browsing Chat
Basic

Totally free but limited

  • Limited Solution
Welcome to UpStudy!
Please sign in to continue the Thoth AI Chat journey
Continue with Email
Or continue with
By clicking “Sign in”, you agree to our Terms of Use & Privacy Policy