The weekly price fluctuation of Fjord stock has a mean of 21
The weekly price fluctuation of Fjord stock has a mean of $2.10 and a standard deviation of $0.38. A sample of 107 weekly price fluctuations for this stock have been measured and the mean has been calculated. Calculate the standard error of the mean (sigma x). Give your answer to 3 decimal places.
Solution
The standard error of the mean is given by
sigma(xbar) = sigma / sqrt(n)
= 0.38 / sqrt(107)
= 0.036735987 = 0.037 [ANSWER]
