The Finite Population Correction Factor for the Standard Error of the Mean

question 70

Multiple Choice

The finite population correction factor for the standard error of the mean should be used when the ratio of the sample size to the size of population exceeds ________.

• A) 1%
• B) 2%
• C) 3%
• D) 5%

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Definitions:

Literate

The ability to read and write at a level sufficient for effective communication and consumption of information.

Social Overhead Capital

Basic infrastructure projects such as roads, power generation, and irrigation systems.

Developing Country

A nation with a lower level of material wealth, industrialization, and human development index compared to developed countries.

Free-Rider Problem

A problem intrinsic to public goods: Because people can enjoy the benefits of public goods whether or not they pay for them, they are usually unwilling to pay for them.