A random sample of 20 purchases showed the following amounts (in $): The mean was $45.26 and
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The mean was $45.26 and the standard deviation was $20.67.
a) What is the standard error of the mean?
b) How would the standard error change if the sample size had been 5 instead of 20? (Assume that the sample standard deviation didn€™t change.)
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a The standard error SE s n 2067 20 4622 b If the sa...View the full answer
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Related Book For 
Business Statistics
ISBN: 9780321925831
3rd Edition
Authors: Norean Sharpe, Richard Veaux, Paul Velleman
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