we have N repeated measurements x subject to random errors
population variance is
the variance of the mean is
(population variance) / N
what does the variance of the mean represent? and how?
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standard deviation of the mean watch
- Thread Starter
- 09-01-2015 19:34
- Community Assistant
- 09-01-2015 22:41
Do you know what the difference between a sample mean and a population mean is?
The variance of the sample mean (the formula you have above) is telling you how close the sample mean is to the population mean. So a small variance of the sample mean implies the sample mean is close to the population mean.