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You randomly choose 16 unfurnished one-bedroom apartments from a large number of advertisements in your local newspaper. You calculate that their mean monthly rent is $766 and their standard deviation is $180. What is the standard error of the mean?

Respuesta :

Answer:

The standard error of mean is $45.

Step-by-step explanation:

We are given the following in the question:

Mean = $766

Sample size, n = 16

Standard deviation, σ  = $180

We have to find the standard error of the mean.

Formula for standard error of mean:

[tex]S.E = \dfrac{\sigma}{\sqrt{n}}[/tex]

Putting values, we get,

[tex]S.E = \dfrac{180}{\sqrt{16}} = 45[/tex]

Thus, the standard error of mean is $45.