Question: The U.S. Energy Information Administration (US EIA) reported that the average price for a gallon of regular gasoline is $2.94. The US EIA updates its

The U.S. Energy Information Administration (US EIA) reported that the average price for a gallon of regular gasoline is $2.94. The US EIA updates its estimates of average gas prices on a weekly basis. Assume the standard deviation is $0.21 for the price of a gallon of regular gasoline and recommend the appropriate sample size for the US EIA to use if they want a margin of error with 95% confidence.

How big should the sample size be for a margin of error of $0.10.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Template: Equipment maintenance and calibration of thermometers Record areas or equipment checked for defects. For example, floors, walls and ceilings could be checked monthly for any cracks or...

b The desired margin of error is 0 06 CHER You may need to use the appropriate appendix table or technology to answer this question The U S Energy Information Administration US EIA reported that the...

10 JI 3 jo pstell - The role of artificial variables in the simplex method is a. to overtake any infeasible solution b. to find optimal dual solution in the final simplex table O c. to get a...

The U.S. Energy Information Administration (US EIA) reported that the average price for a gallon of regular gasoline is $3.94 (US EIA website, April 6, 2012). The US EIA updates its estimates of...

check the attachment to see the question. 4. [-/14 Points] DETAILS ASWSBE14 8.E.014. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER You may need to use the appropriate appendix table or technology to...

i need help You may need to use the appropriate appendix table or technology to answer this question. The US. Energy Information Administration (US EIA) reported that the average price for a gallon...

1.) The U.S. Energy Information Administration (US EIA) reported that the average price for a gallon of regular gasoline is $2.94. The US EIA updates its estimates of average gas prices on a weekly...

You may need to use the appropriate appendix table or technology to answer this question. The U.S. Energy Information Administration (US EIA) reported that the average price for a gallon of regular...

The U.S. Energy Information Administration (US EIA) reported that the average price for a gallon of regular gasoline is $3.95. The US EIA updates its estimates of average gas prices on a weekly...

WebAssign Homework X Homework - MATHilOS-Ooi X Chapter 8 Section 9 Hornet X Chapter 9 Section 1 - Homer X Chapter 9 Section 2 Hornet X + C' 0 webassignnet i . ,_i . . , , , Apps ,/ Web Slice Gallery...

Graff practices law with a large firm, a partnership for five year after graduating from law school. Recently, he resigned his position to open his own law office which he operates as a sole...

Ethyl acetate, C4H8O2, is a fragrant substance used both as a solvent and as an aroma enhancer. Its Lewis structure is (a) What is the hybridization at each of the carbon atoms of the molecule? (b)...

what is the primary tax advantage of a section 3 0 3 redemption

The cash account for Remedy Medical Co. at April 30, 2014, indicated a balance of $18,885. The bank statement indicated a balance of $23,775 on April 30, 2014. Comparing the bank statement and the...

Peanut-Fresh Inc. produces all-natural organic peanut butter. The peanut butter is sold in12-ounce jars. The sales budget for the rst four months of the year is as follows: Company policy requires...

During 2017, Rooney Manufacturing Company incurred $8,000,000 of research and development (R&D) costs to create a long-life battery to use in computers. In accordance with FASB standards, the entire...

A 79-kg person stands on a bathroom scale and rides in an elevator whose vy-versus-time graph is shown in FIGURE 5-45. What is the reading on the scale at (a) t = 1.0 s, (b) t = 4.0 s, (c) t = 8.0 s?...

The cash account for Discount Medical Co. at April 30, 2010, indicated a balance of $4,604. The bank statement indicated a balance of $9,158 on April 30, 2010. Comparing the bank statement and the...

Determine if the overhead allocated to the product relates to a single plantwide overhead rate method, multiple production department factory overhead rate method, or activity-based costing...

8. In what ways does IT change OBs and procedures?

3. Using thc three views of effectiveness discussed in the chapter, discuss which specific mcasures are most useful to managcrs in evaluating this organization's effectiveness.

3. How wou Id you Ocscribe the kind of employment rclmionsh;p th"l exists betwccn A"011 and its , ..ksforc,,'1