Question

A random sample of 16 purchases showed the amounts in the table​ (in $). The mean is $48.16
and the standard deviation is ​$18.90.

​a) What is the standard error of the​ mean?

​b) How would the standard error change if the sample size had been44
instead of 16​? ​(Assume that the sample standard deviation​ didn't change.)

Answer 1

Solution :

Given that ,

standard deviation = S = $18.90

(A)n = 16

standard error =S =  / n = 18.90/ 16=4.7250

(B)n = 44

standard error =S =  / n = 18.90/ 44=2.8493