Suppose you are interested in determining if the average amount of money that students spend on food at your university per day is greater than $30.You randomly choose 25 students from your campus and calculate that the mean amount of money spent per day is $18.01 with a standard deviation of $2.22.What is the standard error of the mean?
A).44
B)0
C)18.01
D)None of the above

Question

Quizplus · Accepted Answer

The formula for standard error of the mean is standard deviation divided by the square root of the sample size. So, in this case, the standard error of the mean is $2.22 / sqrt(25) = $0.44. Therefore, the correct answer is A.

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