Question

Suppose there are 310 first-year lawyers in a particular metropolitan area with an average starting salary of $156,000 and a standard deviation of $13,000. What is the standard error of the mean for a random sample of 33 first-year lawyers?

Answer 1

Answer:

$ 2263

Step-by-step explanation:

In this case to calculate the standard error of the mean, we only need the standard deviation (sd) and the number of the random sample (n).

sd = 13000

n = 33

SE = sd / (n ^ (1/2))

replacing:

SE = 13000 / (33 ^ (1/2))

SE = 2263.01

What the standard error of the mean for a random sample of 33 first-year lawyers means is $ 2263