1. What is Finite Population Correction Factor?

The Finite Population Correction (FPC) factor is used in statistics to adjust the standard error of a sample statistic when sampling without replacement from a finite population. It accounts for the reduction in variability when the sample size is a significant proportion of the population.

2. How Does the Calculator Work?

The calculator uses the FPC formula:

Where:

• \( N \) — Total population size
• \( n \) — Sample size

Explanation: The FPC factor reduces the standard error when the sample size is more than 5% of the population, providing more accurate estimates of population parameters.

3. Importance of FPC Calculation

Details: FPC is crucial for accurate statistical inference in finite populations. It prevents overestimation of sampling error and ensures more precise confidence intervals and hypothesis tests when sampling without replacement from finite populations.

4. Using the Calculator

Tips: Enter the total population size (N) and sample size (n). The sample size must be less than the population size, and population size must be at least 2.

5. Frequently Asked Questions (FAQ)

Q1: When should I use the FPC factor?
A: Use FPC when your sample size is more than 5% of the population and you're sampling without replacement from a finite population.

Q2: What values can FPC take?
A: FPC values range between 0 and 1. A value close to 1 indicates the sample is a small fraction of the population, while smaller values indicate larger sampling fractions.

Q3: How does FPC affect standard error?
A: FPC reduces the standard error. The corrected standard error is calculated as: Standard Error × FPC.

Q4: Is FPC used for infinite populations?
A: No, FPC is only applied to finite populations. For infinite or very large populations, FPC approaches 1 and can be ignored.

Q5: What are the limitations of FPC?
A: FPC assumes simple random sampling without replacement. It may not be appropriate for complex sampling designs or when sampling with replacement.