Homework Soursethe starting salaries of a sample of three students who grad
the starting salaries of a sample of three students who graduated from college last year with majors in the mathematical sciences are $44,000, $34,000, and 54,000.
A. What is the point estimate of the population mean?
B. What is the standard error of the point estimate ?
the starting salaries of a sample of three students who graduated from college last year with majors in the mathematical sciences are $44,000, $34,000, and 54,000.
A. What is the point estimate of the population mean?
B. What is the standard error of the point estimate ?
the starting salaries of a sample of three students who graduated from college last year with majors in the mathematical sciences are $44,000, $34,000, and 54,000.
A. What is the point estimate of the population mean?
B. What is the standard error of the point estimate ?
the starting salaries of a sample of three students who graduated from college last year with majors in the mathematical sciences are $44,000, $34,000, and 54,000.
A. What is the point estimate of the population mean?
B. What is the standard error of the point estimate ?
Solution
A. Point estimate = Average of 3 = 44000
B.
S.d = 10000
Standard Error= sd/ Sqrt(n)
Where,
sd = Standard Deviation
n = Sample Size
Standard deviation( sd )=10000
Sample Size(n)=3
Standard Error = ( 10000/ Sqrt ( 3) )
= 5773.5
