SCENARIO 8-16
A random sample of 100 stores from a large chain of 500 garden supply stores was selected to determine the mean number of lawnmowers sold at an end-of-season clearance sale.The sample results indicated a mean of 6 and a standard deviation of 2 lawnmowers sold.A 95% confidence interval (5.623 to 6.377)was established based on these results.
-Referring to Scenario 8-16,the confidence interval estimate of the mean with finite population correction will be wider in range than confidence interval estimate without finite population correction.

Question

Quizplus · Accepted Answer

The finite population correction factor is used when sampling without replacement from a finite population, and it typically makes the confidence interval narrower, not wider, because it adjusts for the decrease in variability that occurs when the population size is finite and a significant portion is sampled.

SCENARIO 8-16 A Random Sample of 100 Stores from a Large Chain