Question

Is a sample size of $1,000$a reliable measure for a population of $5,000$?

Short answer

Yes, for a population of $5000$, a sample size of$1000$ is a reliable measure.

Step-by-step solution

Concept information 

The term population typically refers to the number of people living in a single area, such as a city or town, region, country, continent, or the entire world.

Explanation of Solution

A sample size of $10\%$of the population size is a reliable measure of the population parameter if the population size is $5000$. This means that a sample size of$500$ is a reliable indicator. Any sample size greater than $500$ is also a reliable measure because it provides a more accurate representation of the true population. Larger samples are more reliable than smaller samples.