Question

The WPC Sports Company has noted that the size of individual "customer order" is normally distributed with a mean of $100 and standard deviation of $12. If a soccer team of 16 players were to make the next batch of orders, what would be the standard error of the mean?

Answer 1

Answer:

Standard error of the mean = 3

Explanation:

Given:

Mean Distribution = $100

Standard deviation = $12

Total number of player = 16 player

Standard error of the mean = ?

Computation of standard error of the mean:

Standard error of the mean = Standard deviation / √ Total number of player

Standard error of the mean = 12 / √16

Standard error of the mean = 12 / 4

Standard error of the mean = 3