The mean income of residents of Long Island City, NY, was $32,500. The mean income of a random sample of 200 residents of Long Island City was found to be $28,900. The difference between the two numbers ($3,600) is known as sampling error.

Question

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Sampling error refers to the difference between a population parameter (in this case, the mean income of all residents of Long Island City, NY) and a statistic (the mean income of a random sample of 200 residents). The $3,600 difference represents the discrepancy between the actual mean income and the mean income estimated from the sample.

The Mean Income of Residents of Long Island City, NY