From the course: Statistics Foundations 3: Using Data Sets
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Standard error for means
From the course: Statistics Foundations 3: Using Data Sets
Standard error for means
- Through the use of the central limit theorem, we've now seen how taking just a few simple random samples can guide us in the direction of the population mean. Of course, when we use only a few samples to try and figure out a population mean, we understand that the average of our sample means isn't perfect. It comes with a standard error. So how do you figure out the standard error for our simple random samples? Let's say we're trying to figure out how long it takes to get our coffee drinks at the local cafe between 7:00 am and 8:00 am on weekday mornings. We take samples on four different weekdays. Our sample size for each of these samples is five. Here's our data for those days, times are in minutes. So for sample A we can see that the time it took our five customers to get coffee ranged from 0.6 minutes to 2.4 minutes. The average or mean for sample A was 1.58 minutes. If we take the average of the sample means or the…
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