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Why is the estimate of the standard error of the sample mean biased (Page 18, Section 9)? Page 18, Section 9 is attached below. Important

Why is the estimate of the standard error of the sample mean biased (Page 18, Section 9)?

Page 18, Section 9 is attached below.

Important definition. The standard error of the sample mean V(X) An estimate of the standard error of the sample mean: A V(X) Why is this estimate biased? A question in the midterm. (13) (14)

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