Doubt in Standard Error

[bsaikrishna]

Hi

I was just reading about Standard Error at the following link:

http://changingminds.org/explanation...dard_error.htm

Standard Error = (Standard Deviation of the sample) / sqrt (sample size)

Now, the larger your sample size, the smaller is your standard error. The smaller the standard error, the more representative it is to the actual population.

My Doubt: But, the representativeness of a sample also should consider the population size. If the populations of two samples are 5 million and 5 thousand, in both the cases we get same sample size being representative according to the above formula. But you cannot have the same sample size being representative to populations of 5000 and 5 million.

So, how should I understand this?

Could somebody help me?

[Dason]

It doesn't really matter if the sample size is relatively small compared to the population size. For more info consult here.