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- https://stats.libretexts.org/Courses/Fresno_City_College/Book%3A_Business_Statistics_Customized_(OpenStax)/07%3A_The_Central_Limit_Theorem/7.05%3A_Finite_Population_Correction_FactorTo correct for the impact of this, the Finite Correction Factor can be used to adjust the variance of the sampling distribution. The Finite Population Correction Factor for the variance of the means s...To correct for the impact of this, the Finite Correction Factor can be used to adjust the variance of the sampling distribution. The Finite Population Correction Factor for the variance of the means shown in the standardizing formula is: It is learned that the population of White German Shepherds in the USA is 4,000 dogs and the mean weight for German Shepherds is 75.45 pounds.
- https://stats.libretexts.org/Bookshelves/Applied_Statistics/Business_Statistics_(OpenStax)/07%3A_The_Central_Limit_TheoremThis page discusses the Central Limit Theorem (CLT), highlighting its significance in analyzing sample means and their distributions for probability calculations. It covers applications for sample mea...This page discusses the Central Limit Theorem (CLT), highlighting its significance in analyzing sample means and their distributions for probability calculations. It covers applications for sample means and proportions, includes a finite population correction factor, and provides educational resources such as worksheets, key terms, reviews, and practice exercises.
- https://stats.libretexts.org/Courses/Saint_Mary's_College_Notre_Dame/BFE_1201_Statistical_Methods_for_Finance_(Kuter)/05%3A_Point_Estimates/5.05%3A_Finite_Population_Correction_FactorWe saw that the sample size has an important effect on the variance and thus the standard deviation of the sampling distribution. To correct for the impact of this, the Finite Population Correction Fa...We saw that the sample size has an important effect on the variance and thus the standard deviation of the sampling distribution. To correct for the impact of this, the Finite Population Correction Factor can be used to adjust the variance of the sampling distribution. If the sample size is 100 dogs, then find the probability that a sample will have a mean that differs from the true population mean by less than 2 pounds.
- https://stats.libretexts.org/Courses/Fresno_City_College/Introduction_to_Business_Statistics_-_OER_-_Spring_2023/07%3A_The_Central_Limit_Theorem/7.05%3A_Finite_Population_Correction_FactorTo correct for the impact of this, the Finite Correction Factor can be used to adjust the variance of the sampling distribution. The Finite Population Correction Factor for the variance of the means s...To correct for the impact of this, the Finite Correction Factor can be used to adjust the variance of the sampling distribution. The Finite Population Correction Factor for the variance of the means shown in the standardizing formula is: It is learned that the population of White German Shepherds in the USA is 4,000 dogs and the mean weight for German Shepherds is 75.45 pounds.
- https://stats.libretexts.org/Bookshelves/Applied_Statistics/Business_Statistics_(OpenStax)/07%3A_The_Central_Limit_Theorem/7.04%3A_Finite_Population_Correction_FactorThis page discusses how sample size affects the variance and standard deviation of sampling distributions, stressing the Finite Population Correction Factor when sampling over 5% of a population. It e...This page discusses how sample size affects the variance and standard deviation of sampling distributions, stressing the Finite Population Correction Factor when sampling over 5% of a population. It emphasizes this adjustment's significance for means and proportions, providing two examples: weights of German Shepherds and customers exceeding credit limits. These examples illustrate using the correction factor to calculate probabilities for sample means and proportions.
