Suppose there are 310 first-year lawyers in a particular metropolitan area with an average starting salary of $156,000 and a standard deviation of $13,000. What is the standard error of the mean for a random sample of 33 first-year lawyers?
A)$2,142.63
B)$4,512.26
C)$2,263.01
D)$3,145.44

Question

Quizplus · Accepted Answer

The standard error of the mean (SEM) is calculated using the formula SEM = σ / √n, where σ is the standard deviation of the population and n is the sample size. Here, σ = $13,000 and n = 33. Plugging these values into the formula gives SEM = $13,000 / √33 ≈ $2,142.63.

Suppose There Are 310 First-Year Lawyers in a Particular Metropolitan