Question

If you are a human resources manager and you randomly selected 5 job candidates to interview out of hundreds of equally-qualified candidates that applied for a job without replacement, what would be the standard error of the mean if the standard deviation is 1?

Answer 1

Standard error of mean = 0.4472 ≈ 0.45

Explanation:

Data provided in the question:

Number of randomly selected candidates, n = 5

Standard deviation of the data, σ = 1

Now,

Standard error of mean is calculated using the formula as

⇒ Standard error of mean =
`\frac{\textup{Standard deviation}}{√(n)}`

on substituting the respective values, we get

⇒ Standard error of mean =
`\frac{\textup{1}}{√(5)}`

or

⇒ Standard error of mean =
`\frac{\textup{1}}{√(5)}`

or

⇒ Standard error of mean =
`\frac{\textup{1}}{2.236}`

or

⇒ Standard error of mean = 0.4472 ≈ 0.45