Finite population correction, Advanced Statistics

This term sometimes used to describe the extra factor in variance of the sample mean when n sample values are drawn without the replacement from the finite population of size N. This variance can be given by the below stated formula


1009_finite population correction.png 


the 'correction' term being (1 - n/N).

 

Posted Date: 7/27/2012 7:27:17 AM | Location : United States







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