From a random sample of 48 days in a recent year, U.S. gasoline prices had a mean
Question:
From a random sample of 48 days in a recent year, U.S. gasoline prices had a mean of $3.63. Assume the population standard deviation is $0.21.
You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals. If convenient, use technology to construct the confidence intervals.
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90 CI x z c n 363 1645 021 48 363 00499 358 368 95 CI x z c ...View the full answer
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Usman Nasir
I did Master of Commerce in year 2009 and completed ACCA (Association of Chartered Certified Accountants) in year 2013. I have 10 years of practical experience inclusive of teaching and industry. Currently i am working in a multinational company as finance manager and serving as part time teacher in a university. I have been doing tutoring via many sites. I am very strong at solving numerical / theoretical scenario-based questions.
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Related Book For 
Elementary Statistics Picturing The World
ISBN: 9780321911216
6th Edition
Authors: Ron Larson, Betsy Farber
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