A confidence interval for the price of gasoline from a random sample of 30 gas stations in
Question:
A confidence interval for the price of gasoline from a random sample of 30 gas stations in a region gives the following statistics:
y = + 4.49 s = + 0.29
a) Find a 95% confidence interval for the mean price of regular gasoline in that region.
b) Find the 90% confidence interval for the mean.
c) If we had the same statistics from a sample of 60 stations, what would the 95% confidence interval be now?
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Step by Step Answer:
a The confidence interval equation is y t n 1 SE y where SE s n We need to ...View the full answer
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Related Book For 
Business Statistics
ISBN: 9780321925831
3rd Edition
Authors: Norean Sharpe, Richard Veaux, Paul Velleman
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