What is the meaning of finite population in statistics?

Answer 1

Finite populations mean a limited size population. Sometimes, a limited population is very large, so it may be treated as an infinite population, for statistical inferences. In statistics, the population size may not be known. The assumption of infinite or finite population is important. If a survey is being conducted in a completely random manner, the same person could be surveyed twice. The chance of this occurring diminishes as the population increases.