Using Finite Population Correction Factor In this section we presented Formulas 7-2 and 7-3, which…

Using Finite Population Correction Factor In this section we presented Formulas 7-2 and 7-3, which are used for determining sample size. In both cases we assumed that the population is infinite or very large and that we are sampling with replacement. When we have a relatively small population with size N and sample without replacement, we modify E to include the finite population correction factor shown here, and we can solve for n to obtain the result given here. Use this result to repeat Exercise 43, assuming that we limit our population to the 12,784 car owners living in LaGrange, New York, home of the author. Is the sample size much lower than the sample size required for a population of millions of people?

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