Sampling Error vs Standard Error of the Sample Mean
Just wanted to make sure I understand and can differentiate between these two concepts:
For say a sample/population mean, I understand sampling error to the difference between the sample mean and the population mean. Essentially, its the difference that results in inherent differences between the sample and population.
For a standard error of the sample mean, is this referring to the standard deviation of the sample mean (ie. with x% confidence and the standard error, you can reject the null hypothesis and state the sample mean is representative of the population?)
thanks for your help.
Study together. Pass together.
Join the world's largest online community of CFA, CAIA and FRM candidates.