If we take a simple random sample of size n = 500 from a population of size 500,000, the variability of our estimate will be
A) less than the bias.
B) approximately the same as the variability for a sample of size n = 500 from a population of size 50,000,000.
C) plus or minus 0.1%.
D) much greater than the variability for a sample of size n = 500 from a population of size 50,000,000.
E) much less than the variability for a sample of size n = 500 from a population of size 50,000,000.

Question

Quizplus · Accepted Answer

The variability of an estimate from a simple random sample is primarily determined by the sample size, not the population size, as long as the population is much larger than the sample. Therefore, the variability for a sample of size n = 500 will be approximately the same whether the population size is 500,000 or 50,000,000.

If We Take a Simple Random Sample of Size N