I read in Schweser EXAMN3AM that “the standard deviation of the sample mean is called the sandard error of the sample mean”. Could someone please shed some light on this? I am confused. Isn’t the standar error means Std. Dev/ N^0.5?
Yes, its the same thing. Standard error and standard deviation are just different names.
Ick. No they’re not. A statistic is calculated based on data. The data is random so the statistic is also random. If it’s random it has a distribution called its sampling distribution. Usually the distribution has a standard deviation. This particular standard deviation is called thye standard error of the statistic.