Exhibit 8-6
A sample of 75 information system managers had an average hourly income of $40.75 with a standard deviation of $7.00.
-Refer to Exhibit 8-6. The standard error of the mean is
A)80.83
B)7
C)0.8083
D)1.611

Question

Quizplus · Accepted Answer

The formula for standard error of the mean is standard deviation / square root of sample size. Plugging in the values, we get standard error of the mean = 7 / sqrt(75) = 0.8083. Therefore, the answer is C.

Exhibit 8-6 A Sample of 75 Information System Managers Had an Average