SEM = 17 / sqrt(40) = 2.68
Next, we can calculate the z-scores using the formula:
z = (x - μ) / SEM
where x is the sample mean, μ is the population mean (which we don't know), and SEM is the standard error of the mean.
For the lowest 60% of means, we want to find the z-score that corresponds to the 20th percentile (since 60% is the area below the 80th percentile). Using the z-table, we find that the z-score for the 20th percentile is -0.84.
z = -0.84
-0.84 = (x - μ) / 2.68
-2.25 = x - μ
For the highest 40% of means, we want to find the z-score that corresponds to the 60th percentile (since 40% is the area above the 60th percentile). Using the z-table, we find that the z-score for the 60th percentile is 0.25.
z = 0.25
0.25 = (x - μ) / 2.68
0.67 = x - μ
Now we have two equations with two unknowns (x and μ):
-2.25 = x - μ
0.67 = x - μ
Solving for x, we get:
x = -0.79 (for the lowest 60% of means)
x = 0.93 (for the highest 40% of means)
Therefore, the amount of time that separates the lowest 60% of means from the highest 40% is:
0.93 - (-0.79) = 1.72 minutes.