 # Confidence and Population size

I got an understanding from the explanatory video that the “Interval Estimation” and related “Confidence” is dependent upon the sample size (‘n’), standard deviation (‘σ’).

But I have a doubt that shouldn’t this confidence in our estimation be also dependent upon the population size (even if on its rough estimation).

Consider for example in the Mandi example given in the video, it was calculated that the number of samples we need to take for a 95% confidence is about 24 .But what if there are only 20 shops in the mandi.

Or for a more general example, shouldn’t be the confidence of my calculation of sample size 24 be greater in case the population size is 50 than if it is 100?

Hi @prashant_gupta,
I got your point, and it seems legit. But if we think about the ultimate reason for estimation some population parameter is just because we do not want to compute them.
In case of a small population size, we can easily compute them instead of estimating them.
The whole idea is for larger and larger population size.