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What is the standard error

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A market research firm supplies manufacturers with estimates of the retail sales of their products from samples of retail stores. Marketing managers are prone to look at the estimate and ignore sampling error. A random sample of 36 stores this year shows mean sales of 73 units of a small appliance with a standard deviation of 9 units. During the same point in time last year, a random sample of 49 stores had mean sales of 81 units with standard deviation 4 units. What is the standard error?

Reference no: EM132488064

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