Standard error

Standard error is a statistical term that measures the accuracy with which a sample represents a population. In statistics, standard error is used as a measure of the dispersion of sample means around the population mean.

Definition

The standard error of a statistic is the standard deviation of its sampling distribution or an estimate of that standard deviation. If the statistic is the sample mean, it is called the standard error of the mean (SEM).

Calculation

The standard error can be computed from a knowledge of sample attributes - sample size and sample statistics. The standard error is calculated by dividing the standard deviation by the square root of the sample size.

Interpretation

The standard error is used in trading systems, forecasting, and many other disciplines that require prediction and measurement. The standard error is used to construct confidence intervals and to test hypotheses.

See also

• Standard deviation
• Variance
• Confidence interval
• Hypothesis testing

References

Standard error Resources
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