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 the population exceeds -------- .
A)5%
B)3%
C)2%
D)1%

Question

Quizplus · Accepted Answer

The finite population correction factor is typically used when the sample size is greater than 5% of the total population. This adjustment is made to account for the decrease in variability that occurs when sampling without replacement from a finite population.

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