The Use of the Finite Population Correction Factor When Sampling

question 153

Multiple Choice

The use of the finite population correction factor when sampling without replacement from finite populations will

• A) reduce the standard error of the mean.
• B) not affect the standard error of the mean.
• C) only affect the proportion, not the mean.
• D) increase the standard error of the mean.

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Definitions:

Locke

John Locke was a 17th-century English philosopher and political theorist, considered one of the founding figures of modern philosophical empiricism and liberalism.

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Economic systems in which prices for goods and services are determined by the open market and consumers, with minimal government intervention.

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The state of not being equal, especially in status, rights, and opportunities, often discussed in social, economic, and political contexts.

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A historical document whereby the thirteen American colonies declared their independence from British rule in 1776.