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5 October, 05:23

The WPC Sports Company has noted that the size of individual "customer order" is normally distributed with a mean of $100 and standard deviation of $12. If a soccer team of 16 players were to make the next batch of orders, what would be the standard error of the mean?

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  1. 5 October, 05:42
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    Standard error of the mean = 3

    Explanation:

    Given:

    Mean Distribution = $100

    Standard deviation = $12

    Total number of player = 16 player

    Standard error of the mean = ?

    Computation of standard error of the mean:

    Standard error of the mean = Standard deviation / √ Total number of player

    Standard error of the mean = 12 / √16

    Standard error of the mean = 12 / 4

    Standard error of the mean = 3
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