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A finite population has N = 10,000 items with population standard deviation σ = 50. A researcher plans a simple random sample of n = 4,000 items. If the standard error is calculated using the formula SE = σ/√n without applying a finite population correction, what is the approximate relative overestimation of precision?
A finite population has N = 10,000 items with population standard deviation σ = 50. A researcher plans a simple random sample of n = 4,000 items. If the standard error is calculated using the formula SE = σ/√n without applying a finite population correction, what is the approximate relative overestimation of precision?