From a given finite population samples are drawn with replacement. If the sample size is increased from 50 to 70, the standard error would:
Answers
Answer:
Z = Given Z value. p = Percentage of population. C = Confidence level. Pop = Population.
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Sample Size Formula for Infinite and Finite Population.
Formulas for Sample Size (SS)
For Infinite Sample Size SS = [Z2p (1 − p)]/ C2
For Finite Sample Size SS/ [1 + {(SS − 1)/Pop}]
Step-by-step explanation:
What is the Finite Population Correction Factor?
The Finite Population Correction Factor (FPC) is used when you sample without replacement from more than 5% of a finite population. It’s needed because under these circumstances, the Central Limit Theorem doesn’t hold and the standard error of the estimate (e.g. the mean or proportion) will be too big. In basic terms, the FPC captures the difference between sampling with replacement and sampling without replacement.
Most real-life surveys involve finite populations sampled without replacement. For example, you might perform a telephone survey of 10,000 people; once a person has been called, they won’t be called again.
Note: A downside of using the FPC is that it can cause uncertainty when applying the results to a larger population, so you should be careful when making inferences.