Question

An experiment involves selecting a random sample of 256 middle managers for study. One item of interest is their annual income. The sample mean is computed to be $35,420. If the population standard deviation is $2,050, what is the standard error of the mean

Answer 1

Answer:

SE=$128.13

Step-by-step explanation:

-Given the sample mean is $34,250 and standard deviation is $2,050 with n=256:

-Standard error is calculated using the formula:

$SE=\frac{s}{\sqrt{n}}$

Where s is the sample standard deviation.

#We substitute our values to solve for SE:

$SE=\frac{s}{\sqrt{n}}\\\\=\frac{2050}{\sqrt{256}}\\\\=128.125\approx128.13$

Hence, the standard error is $128.13