Exhibit 8-2
The manager of a grocery store has taken a random sample of 100 customers. The average length of time it took these 100 customers to check out was 3.0 minutes. It is known that the standard deviation of the checkout time is one minute.
-Refer to Exhibit 8-2. The standard error of the mean equals
A)0.001
B)0.010
C)0.100
D)1.000

Question

Quizplus · Accepted Answer

The standard error of the mean is calculated as the standard deviation divided by the square root of the sample size. Here, it is 1 minute divided by the square root of 100, which equals 0.100.

Exhibit 8-2 The Manager of a Grocery Store Has Taken a Random