Sampling Error in Mean Calculation | CFA Level 1 Exam Prep

Sampling Error in Mean Calculation

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Question

A sample of 10 observations is drawn from a population with mean 17. The mean of the observations equals 14.3 and the sample standard deviation equals 4.8.

The sampling error in mean equals ________.

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Explanations

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A. B. C. D.

B

"Sampling error" refers to the difference between a sample statistic and the corresponding population parameter. In this case, the sampling error equals 14.3 - 17

= -2.7.

To calculate the sampling error in the