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6 October, 14:21

The ransin sports company has noted that the size of individual customer orders is normally distributed with a mean of $112 and a variance of $9. 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. 6 October, 18:20
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    Standard error of the mean is computed by:

    Standard error = SD / sqrt N

    Where:

    N is the sample size

    SD is the standard deviation

    To get the standard deviation, you need to get the sqrt of the variance = sqrt 9 = 3

    So plugging in our dа ta:

    Standard error = 3 / sqrt (16)

    = 0.75
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