what is the factor given that the size of the population is 500 and samples of size 50 are drawn from this population
Finite population correction factor: f=N−nN−1=500−50500−1≈0.95.f=\sqrt{\frac{N-n}{N-1}}=\sqrt{\frac{500-50}{500-1}}\approx0.95.f=N−1N−n=500−1500−50≈0.95.
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