When Is the Finite Population Correction Used

question 86

Multiple Choice

When is the finite population correction used?

• A)When the population is more than or equal to 20 times the sample size.
• B)When the population is less than or equal to 20 times the population size.
• C)When the population is equal to 20 times the population size.
• D)Whenever the sample size is small,no matter what the population size is.

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Definitions:

Contract

A legally binding agreement between two or more parties that outlines obligations and rights of those involved.

Destination Contract

A contract for the sale of goods where the seller is required to ship the goods to a specific location and title passes to the buyer upon delivery at that location.

Risk of Loss

A legal term concerning who bears the responsibility for damage or loss of goods under a contract at any given point in a transaction.

Transit

The act or process of moving people or goods from one place to another.