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]

 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 hav

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