What is the standard error of the mean

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Reference no: EM132290679

Use the following scenario to answer all questions:

1. You are asked to determine the average salary of all business analysts who graduated with a bachelor degree, and are provided with a random survey of 100 graduates. That survey has an average salary of $35,000 and a standard deviation of $5,000.

What is the sample size?

unknown

100

5,000

35,000

2. What is the sample mean?

35,000

100

can not tell from the information given

5,000

3. What is the Standard Error of the Mean?

750

500

250

4. The t_multiple at the 95% confidence level is closest to

5. The confidence interval is closest to

-1,000 - +1,000

$34,500 - $35,500

$34,000 - $36,000

-500 - +500

6. If the confidence interval instead were $40,000 to $60,000, then the sample mean would be

$60,000

$40,000

$35,000

$50,000

7. To narrow the confidence interval, you could

decrease the sample size

increase the confidence level

increase the standard deviation

increase the sample size

8. Increasing the confidence level will cause the confidence interval to

can not tell from the information given

widen

stay the same

narrow

9. Increasing the sample size will cause the standard error to

can not tell from the information given

decrease

stay the same

increase

10. Increasing the population size will cause the confidence interval to

move to the right

narrow

the population size does not affect the confidence interval

widen

Reference no: EM132290679

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