Assume you have \(N\) random variables \(X_1, \ldots, X_N \sim_{iid} \text{Normal}(\mu, \sigma^2)\).

  1. What does the sampling distribution of the sample median tell us? For full credit use our latest statistics words in complete English sentence(s).

  2. What does the standard error of the sample median tell us? For full credit use our latest statistics words in complete English sentence(s) and be sure to distinguish this answer from your answer above.