Question

Per the Barron's report the average weeks unemployed is 21.5 (population mean) with a population standard deviation of 5 weeks and a sample of 55. Calculate the standard error of the mean to two decimals.

Answer 1

Given that ,

mean = = 21.5

standard deviation = = 5

n = 55

sample distribution of sample mean is ,

=

= 21.5

sampling distribution of standard deviation(standard error)

=  / n = 5 / 55

= 0.67