Question

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

Answer 1

The standard error of the mean is 128.125.

The formula for standard error is:


`\sigma_M=(\sigma)/(√(N))`

With our information, we have:


`\sigma_M=(2050)/(√(256))=128.125.`