Estimation and Sample Size Determination for Finite Populations. Basic Business Statistics: Global Edition.

Author(s)
Berenson, M. L., Levine, D. M. and Szabat, K.
Publication language
English
Pages
4pp
Date published
01 Jan 2013
Type
Tools, guidelines and methodologies
Keywords
Research methodology

In Section 7.6, you used the finite population correction (fpc) factor to reduce the standard
error by a value equal to When developing confidence interval estimates
for population parameters, you use the finite population correction factor when samples are
selected without replacement from a finite population. If more than 5% of the population is
sampled (i.e., ), the finite population correction factor significantly reduces the
width of the confidence interval. If less than 5% of the population is sampled, the finite population
correction factor has little or no practical effect on the confidence interval width.
Equation (8.12) defines the confidence interval estimate for the mean.