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A study was conducted at Wall-e-Mart Canada (a large discount superstore) to discover the mean amount of inventory loss due to shrinkage (in dollars) per
A study was conducted at Wall-e-Mart Canada (a large discount superstore) to discover the mean amount of inventory loss due to shrinkage (in dollars) per month. From a previous study, it was found that the population standard deviation was $192,000. A random sample of 32 months found a sample mean of $431,000 lost per month. What is the standard error of the mean?
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