A sample of 75 information systems managers had an average hourly income of $40.75 with a standard deviation of $7.00.The standard error of the mean is
A) 80.83.
B) 7.0.
C) .8083.
D) 1.611.

Question

Quizplus · Accepted Answer

The formula for calculating the standard error of the mean is the standard deviation divided by the square root of the sample size. 
Standard Error of the Mean = standard deviation / √n 
In this case, the standard deviation is $7.00 and the sample size is 75. 
Standard Error of the Mean = 7.00 / √75 
Standard Error of the Mean = 0.8083 
Therefore, the best choice is C.

A Sample of 75 Information Systems Managers Had an Average