Asked by Lauren Oliveira on Jul 05, 2024
Verified
A sample of 100 information systems managers had an average hourly income of $40.00 with a standard deviation of $8.00.The standard error of the mean is
A) 80.
B) .8.
C) 8.
D) .08.
Standard error of the mean
The standard deviation of the sampling distribution of the mean, indicating the variability of sample means around the population mean.
Average hourly income
The mean amount of money earned by an individual or group per hour of work.
Standard deviation
A measure of the dispersion or variability of a set of numerical data, indicating how much the individual data points deviate from the mean (average) of the data set.
- Execute the correct calculations for the standard error of the mean and the margin of error in assorted scenarios.
Verified Answer
SB
Sierra BakerJul 07, 2024
Final Answer :
C
Explanation :
The formula for standard error of the mean is standard deviation divided by the square root of sample size. Therefore, the standard error of the mean in this case would be $8.00 divided by the square root of 100, which is equal to $0.80 or choice C.
Learning Objectives
- Execute the correct calculations for the standard error of the mean and the margin of error in assorted scenarios.