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Sampling Techniques

What is a sampling distribution?
A sampling distribution is the probability distribution of a given sample statistic based on a random sample.
What is the formula for the standard error of the mean when sampling WITHOUT replacement from a finite population?
σ_x̄ = (σ / √n) × √[(N − n) / (N − 1)], where N is population size and n is sample size
What does the Central Limit Theorem guarantee about the sampling distribution of the sample mean?
The CLT guarantees that as sample size grows, the sampling distribution of the sample mean approaches normality regardless of the population's shape.
What is the 5% rule for applying the Finite Population Multiplier (FPM)?
Apply FPM when the sampling fraction n/N ≥ 0.05 (i.e., you are sampling 5% or more of the population)
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