Q:

If you are a human resources manager and you randomly selected 5 job candidates to interview out of hundreds of equally-qualified candidates that applied for a job without replacement, what would be the standard error of the mean if the standard deviation is 1?

Accepted Solution

A:
Answer:Standard error of mean = 0.4472 β‰ˆ 0.45Step-by-step explanation:Data provided in the question:Number of randomly selected candidates, n = 5Standard deviation of the data, Οƒ = 1Now,Standard error of mean is calculated using the formula asβ‡’ Standard error of mean = [tex]\frac{\textup{Standard deviation}}{\sqrt{n}}[/tex] on substituting the respective values, we get β‡’ Standard error of mean = [tex]\frac{\textup{1}}{\sqrt{5}}[/tex] orβ‡’ Standard error of mean = [tex]\frac{\textup{1}}{\sqrt{5}}[/tex] orβ‡’ Standard error of mean = [tex]\frac{\textup{1}}{2.236}[/tex] orβ‡’ Standard error of mean = 0.4472 β‰ˆ 0.45