You Collect Data from a Sample of 150 People and Calculate

question 101

Multiple Choice

You collect data from a sample of 150 people and calculate a mean of 6.87 and a standard deviation of 3.69. What is the value for the standard error of the mean ?

• A) .16
• B) .30
• C) 3.69
• D) 12.24

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Definitions:

Services Inventory

The concept of quantifying and managing the availability of intangible service capacities, such as hours of labor or access to resources.

Graphical Method

A visual approach to solving mathematical or analytical problems using diagrams, charts, or graphs.

Aggregate Planning

A process by which a company determines levels of capacity, production, subcontracting, inventory, stockouts, and pricing over a specified time horizon.

Trial-and-Error Methods

A problem-solving technique involving repeated, varied attempts which are continued until success, or until the agent stops trying.