Standard Deviation & Standard Error (SD & SE)
The difference between the terms ‘Standard Deviation (SD)’ and ‘Standard Error (SE)’ may be confusing.
Both SD and SE are measures of variation but of two DIFFERENT factors. What are they?
Let us take an example:
We want to weigh a population of 10,000 workers in a factory.
The ideal way to do that would be to:
Weigh each one of the population of 10,000
Calculate the mean weight of the population i.e. Add up all the 10,000 weights and divide by 10,000.