The Meaning of the
Standard Error of the Mean
What this equation is essentially saying is that as the number of samples increase, the deviation between the sample means decreases.
While attempting to absorb all of this information, two questions should spring to mind:
- How large a sample do we need to be able to apply this formula?
- And are these formulae applicable to fairly small populations, such as our UCLA population for example?
Acceptable Sample Size
The Finite Population Correction Factor