# The average cost of a gallon of unleaded gasoline in Greater Cincinnati was reported to be $2.41 (The Cincinnati Enquirer, February 3, 2006). During periods of rapidly changing prices, the newspaper samples service stations and prepares reports on gasoline prices frequently. Assume the standard deviation is $.15 for the price of a gallon of unleaded regular gasoline, and recommend the

The average cost of a gallon of unleaded gasoline in Greater Cincinnati was reported to be $2.41 (The Cincinnati Enquirer, February 3, 2006). During periods of rapidly changing prices, the newspaper samples service stations and prepares reports on gasoline prices frequently.

Assume the standard deviation is $.15 for the price of a gallon of unleaded regular gasoline, and recommend the appropriate sample size for the newspaper to use if they wish to report a margin of error at 95% confidence.

a. Suppose the desired margin of error is $.07.

b. Suppose the desired margin of error is $.05.

c. Suppose the desired margin of error is $.03.

Assume the standard deviation is $.15 for the price of a gallon of unleaded regular gasoline, and recommend the appropriate sample size for the newspaper to use if they wish to report a margin of error at 95% confidence.

a. Suppose the desired margin of error is $.07.

b. Suppose the desired margin of error is $.05.

c. Suppose the desired margin of error is $.03.

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**Related Book For**

## Statistics For Business And Economics

11th Edition

**Authors:** David R. Anderson, Dennis J. Sweeney, Thomas A. Williams

**ISBN:** 9780538481649