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03-04-2020
Mathematics

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An experiment involves selecting a random sample of 256 middle managers for study. One item of interest is their annual income. The sample mean is computed to be $35,420. If the population standard deviation is $2,050, what is the standard error of the mean

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12-04-2020

Answer:

SE=$128.13

Step-by-step explanation:

-Given the sample mean is $34,250 and standard deviation is $2,050 with n=256:

-Standard error is calculated using the formula:

[tex]SE=\frac{s}{\sqrt{n}}[/tex]

Where s is the sample standard deviation.

#We substitute our values to solve for SE:

[tex]SE=\frac{s}{\sqrt{n}}\\\\=\frac{2050}{\sqrt{256}}\\\\=128.125\approx128.13[/tex]

Hence, the standard error is $128.13

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