Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A bus company is doing research to determine if it can save money by switching from gasoline-powered buses to electric-powered buses. The company randomly selects

image text in transcribed
image text in transcribed

A bus company is doing research to determine if it can save money by switching from gasoline-powered buses to electric-powered buses. The company randomly selects records of gasoline usage from 30 days and calculates that the buses use a mean 22 gallons of gas each day with a standard deviation of 1.8 gallons. The gas station the buses use charges $2.95 for a gallon of gas. The company also knows it would cost $62 to charge the buses enough to be able to run for one day.Use a 95% confidence interval to recommend a strategic decision for the bus company.The bus company should switch to the electric buses because 22 gallons of gas costs more than $62.The bus company should switch to the electric buses because the least amount of mean gas per day in theconfidence interval costs more than $62.The bus company should not switch to the electric buses because the least amount of mean gas per dayin the confidence interval costs less than $62.The bus company should not switch to the electric buses because the greatest amount of mean gas perday in the confidence interval costs less than $62.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Precalculus Mathematics For Calculus

Authors: David M Kennedy, James Stewart, Lothar Redlin, Saleem Watson

6th Edition

1133715044, 9781133715047

More Books

Students also viewed these Mathematics questions