If You Have a Sample Size of 16 and a Population

question 45

Multiple Choice

If you have a sample size of 16 and a population standard deviation of 40,what is your standard error of the mean?

• A)-10
• B)10
• C)5
• D)-5

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Definitions:

Rational Decision

Made when an individual, with clear set objectives, uses logic and all available information to choose the best possible outcome from various alternatives.

Error-free Decisions

Decisions that are made without any mistakes, often considered an ideal or theoretical concept in decision-making processes.

Impulse Buying

The act of purchasing items on the spur of the moment, often without prior planning.

Hardwired Heuristics

Cognitive shortcuts or rules of thumb that are ingrained or innate, often leading to quick decision-making or judgments.