In statistics, a finite population refers to a limited set of items or individuals. This means there's a specific number of items we are interested in studying or sampling. Unlike an infinite population, where the number of items is limitless or continuously expanding, a finite population is fixed. For calculations using the hypergeometric probability distribution, the idea of a finite population is crucial. This is because our sampling and probability outcomes depend on knowing exactly how many items are in the group to start with.
- A finite population could be a batch of products being tested for quality control.
- It could also be a group of animals in a conservation study.
The hypergeometric distribution is particularly useful because it accommodates scenarios where this number does not change during the sampling process, except for the items already sampled.