An Experiment Involves Selecting a Random Sample of 256 Middle

question 20

Multiple Choice

An experiment involves selecting a random sample of 256 middle managers for study. One item of interest is their annual income. The sample mean is computed to be $35,420, and the sample standard deviation is $2,050. What is the sample standard error of the mean?

• A) $128.125
• B) $138.36
• C) $2,050
• D) $8.01

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Definitions:

Enforceable

A characteristic of a contract or legal agreement that makes it legally valid and capable of being executed or enforced in a court of law.

Interest Rate

The percentage at which interest is paid by a borrower for the use of money they borrow from a lender.

Corporations

Legal entities that are separate and distinct from their owners, who are shareholders, and have rights to enter into contracts, own assets, and be liable for debts.

Loans

Financial transactions where one party lends money to another with the expectation that it will be repaid, usually with interest, over a specified period.