Example 1

The manager of a car dealership would like to determine the average years of ownership for a new vehicle. He found that a sample of 25 customers who bought new vehicles owned that vehicle for 7.8 years, with a standard deviation of 2.5 years. What is the standard error for this sample mean?


Walch Education

Material Type
sem  standard-error  standard-error-of-the-mean  outcomes  sample-mean  mean 
Target Group (Age)
15 – 18
English (United States)
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