Question
A random sample of the price of gasoline from 20 gas stations in a region gives the statistics below: y = $3.59, s = $0.29
A random sample of the price of gasoline from 20 gas stations in a region gives the statistics below:
y = $3.59, s = $0.29
a) Find a 95% confidence level interval for the mean price of regular gasoline in that region
b) Find the90% confidence interval for the mean.
c) If we had the same statistics from a sample of 80 stations, what would the95% confidence interval benow?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Stochastic Calculus And Applications
Authors: Samuel N Cohen, Robert J Elliott
2nd Edition
1493928678, 9781493928675
