Question: A 99% t-based confidence interval for the mean price for a litre of gasoline was calculated using a simple random sample of prices from 50

A 99% t-based confidence interval for the mean price for a litre of gasoline was calculated using a simple random sample of prices from 50 gas stations. Given that the 99% confidence interval is $1.06<<$1.32, what is the sample mean price for a liter of gasoline?

A. $1.24

B. $1.19

C. Not Enough Information; we would need to know the variation in the sample of gasoline prices

D. Not Enough Information; we would need to know the variation in the population of gasoline price

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