Exhibit 21-3
From a population of size 600, a simple random sample of size 58 is selected. The sample mean is 400, and the sample standard deviation is 40.
-Refer to Exhibit 21-3. An estimate of the standard error of the mean is
A)4.0
B)5.0
C)6.0
D)7.0

Question

Quizplus · Accepted Answer

The standard error of the mean is calculated as the sample standard deviation divided by the square root of the sample size: 40 / √58 ≈ 5.24, which rounds to 5.0.

Exhibit 21-3 From a Population of Size 600, a Simple Random Sample