The average number of monthly sales made by employees of an insurance company is 13.5. The standard deviation is 4. What would be the standard error for a sample of size 64?
A) 0.25
B) 0.50
C) 1
D) 3.38

Question

Quizplus · Accepted Answer

The standard error (SE) is calculated by dividing the standard deviation by the square root of the sample size. SE = 4 / √64 = 4 / 8 = 0.50.

The Average Number of Monthly Sales Made by Employees of an Insurance