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According to a report in U.S. News from April 2013, the average price of gasoline at all U.S. gas stations was $3.00. Suppose that this
According to a report in U.S. News from April 2013, the average price of gasoline at all U.S. gas stations was $3.00. Suppose that this is also the true average () for current prices. Assume that the population standard deviation () of gas prices is $1.75. Let X be a random variable denoting gas price at gas stations.We plan to take a random sample of 36 gas stations.
The standard error (SE) ofX is
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0.292
29.2
0.049
10.22
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