The Use of the Finite Population Correction Factor When Sampling

question 10

Multiple Choice

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

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

---

Definitions:

Outsourcing

Outsourcing is the practice of hiring third-party service providers to handle certain business functions or operations outside the company to save costs and focus on core competencies.

Outside Vendors

External organizations or individuals that supply goods or services to a company, often in areas not core to the company’s main business.

In-house

Activities or operations performed within an organization by its own members or employees, rather than by external parties.

Environmentally Friendly

Pertains to goods, services, and practices that cause minimal harm to the environment.