Information from the American Institute of Insurance indicates the mean amount of life insurance per household in the United States is $115,000 This distribution with a standard deviation of $37,000
a) We select a random sample of 48 households
What is the standard error of the mean? (Round your answer to the nearest whole number)
standard error of the mean
Standard error of the mean = sigma / sq rt (n)
= 37000/ sq rt (48)
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