what does standard error mean stand for in statistics
Standard error of the mean. The standard error of a sample mean is represented by the following formula: That is, the standard error is equal to the standard deviation divided by the square root of the sample size, n. This shows that the larger the sample size, the smaller the standard error.
The standard error of the mean estimates the variability between samples whereas the standard deviation measures the variability within a single sample. For example, you have a mean delivery time of 3.80 days with a standard deviation of 1.43 days based on a random sample of 312 delivery times. These numbers yield a standard error of the mean of 0.08 days (1.43 divided by the square root of 312).