Question

Nike's annual report says that the average American buys 6.5 pairs of sports shoes per year. Suppose a sample of 81 customers is surveyed and the population standard deviation of sports shoes purchased per year is 2.1. What is the standard error of the mean in this experiment?

Answer 1

The standard error of the mean is 0.2333.

Step-by-step explanation:

The standard error of the mean (SEM) measures the variation of sample means in relation to the population mean. It is calculated by dividing the population standard deviation by the square root of the sample size. In this case, the population standard deviation is 2.1 and the sample size is 81.

Therefore, the standard error of the mean can be calculated as:

SEM = population standard deviation / √sample size

Substituting the values:

SEM = 2.1 / √81 = 2.1 / 9 = 0.2333

So, the standard error of the mean in this experiment is 0.2333.