BUS 215 Lecture Notes - Lecture 9: Ceteris Paribus, Test Statistic, Decision Rule
4 Apr 2016
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If we take a sample without replacement from a finite population, we can adjust the test statistic for or by multiplying the standard error in the denominator by the finite. The adjusted test statistics for a mean or proportion are: The expense ratio is defined as a stock or bond fund"s expenses expressed as a. The fpcf can be ignored if the population is infinite (e. g. , an ongoing process such as an assembly line or customer arrivals) or if the sample comprises less than 5% of the population, i. e. , if n/n < 0. 05. The fpcf is a fraction between 0 (if n = n) and 1 (if n = When n/n is small, the fpcf is near 1 so it has little effect on the calculation, but as n n the fpcf approaches zero, and it begins to have a material effect. The advantage of using the fpcf is that it increases the power of the test.
