Alarmed at the rising prices in your town, you decide to estimate the average gas price for
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Question:
Alarmed at the rising prices in your town, you decide to estimate the average gas price for a gallon of regular gas. From your sample of 25 gas stations, you calculate a 90% confidence interval of ($1.99, $2.11). Determine the margin of error in estimating the population parameter?
Related Book For
Essentials of Statistics for Business and Economics
ISBN: 978-1305081598
7th edition
Authors: David Anderson, Thomas Williams, Dennis Sweeney, Jeffrey Cam
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