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What is the standard error of the mean? Provide examples.
The standard error of a sample statistic (such as sample mean) is the actual or estimated standard deviation of the error in the process by which it was generated. In other words, it is the actual or estimated standard deviation of the sampling distribution of the sample statistic.
Since the population standard deviation is seldom known, the standard error of the mean is usually estimated as the sample standard deviation divided by the square root of the sample size (assuming statistical independence of the values in the sample).
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