Question
Download Solution PDFA sample of 30 latest returns on UTI stock reveals a mean return of $4 with a sample standard deviation of $0.13. The estimated standard error of the sample mean is:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven
n = sample size = 30
σ = standard deviation = 0.13
Formula
The standard error of the sample mean = σ/√n
Calculation
Standard error of the sample mean = 0.13/√30
∴ The standard error of sample mean is 0.02
The mean of the sampling distribution of means μX̅ = μ
The variance of sampling with replacement σX̅2 = σ2/n
The standard deviation of mean with rreplacement = σ/√n or S/√n
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