This is my jquery code:

$(document).ready(function(){

var newText = "<h1>Hello World</h1>";
setTimeout(function()
{
    $("#studentsWorkingText1").fadeOut();
    $("#studentsWorkingText1").fadeIn($("#studentsWorkingText1").html(newText));

}, 2000);

});

It is throwing the following error: Uncaught TypeError: $(...).fadeOut is not a function

I am not using the minified/slim version of jquery.

Can someone tell me why is it throwing the above error?