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StatisticsEssentials Of Statistics For Business & Economics9th Edition
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A simple random sample of 40 items resulted in a sample mean of 25. The population standard deviation is σ = 5. a. What is the standard error of the mean, σ x ? b. At 95% confidence, what is the margin of error?

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Essentials Of Statistics For Busin...

9th Edition
David R. Anderson + 4 others
Publisher: South-Western College Pub
ISBN: 9780357045435

Solutions

Chapter
Section
Problem 1E
Problem 2E
Problem 3E
Problem 4E
Problem 5E
Problem 6E
Problem 7E
Problem 8E
Problem 9E
Problem 10E
BuyFindarrow_forward

Essentials Of Statistics For Busin...

9th Edition
David R. Anderson + 4 others
Publisher: South-Western College Pub
ISBN: 9780357045435
Chapter 8.1, Problem 1E
Textbook Problem
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A simple random sample of 40 items resulted in a sample mean of 25. The population standard deviation is σ = 5.

  1. a. What is the standard error of the mean, σx?
  2. b. At 95% confidence, what is the margin of error?

a.

To determine

Find the standard error of the mean.

Explanation of Solution

Calculation:

The given information is that the samples of 40 items are selected randomly with mean 25 and population standard deviation 5.

The formula for standard error of the mean is,

σx¯=σn

The value of the standard error is,

σ

b.

To determine

Find the margin of error for 95% confidence interval.

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