Answer: $5656.85
Step-by-step explanation:
The standard error of the mean measures the dispersion of sample means about the population mean .
It is also known as the standard deviation of its sampling distribution.
Formula : [tex]SE=\dfrac{\sigma}{\sqrt{n}}[/tex] , where [tex]\sigma[/tex] = population standard deviation.
n= sample size.
As per given , we have
[tex]\sigma=\$40,000[/tex]
sample size : n= 50
Then, the standard error of the mean will be :-
[tex]SE=\dfrac{\$40000}{\sqrt{50}}=\$5656.85424949\approx\$5656.85[/tex]
Hence, the standard error of the mean= $5656.85
