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12th Edition

David R. Anderson + 4 others

Publisher: South-Western College Pub

ISBN: 9781285846323

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.

- a. What is the standard error of the mean,
*σ*?_{x} - b. At 95% confidence, what is the margin of error?

**a.**

To determine

Find the standard error of the mean.

**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,

The value of the standard error is,

**b.**

To determine

Find the margin of error for 95% confidence interval.

Statistics for Business & Economics, Revised (MindTap Course List)

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