(Answered) A random sample of the price of gasoline from 20gas

Statistics

A random sample of the price of gasoline from 20gas stations in a region gives the statistics below. Complete parts a) and b)

ybar = $3.59, s = $0.24

a) Find a 95% confidence interval for the mean price of regular gasoline in that region. __, __ (Round to three decimal places as needed.)

b) If we had the same statistics from a sample of 40 stations, what would the 95% confidence interval be now? __, __ (Round to three decimal places as needed.)

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M92073834
Price:- $20

Verified Expert

Priced at $40 Now at $20, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

Marys parents decided to buy a new house for their

Mary's parents decided to buy a new house for their retirement. They are looking at $200,000 lake house. Since their credit history is excellent, they can get approved for 3.6% annual interest on 30-year mortgage. In the ...

You are working with a moe of -4 and a confidence level of

You are working with a MOE of +/-4% and a confidence level of 95%. P and Q =.50, and your CPI is $25.00. The company you work for needs to make a decision as to whether they may need different advertising for men and wom ...

New york graduates tend to leave the state after graduating

New York graduates tend to leave the state after graduating. A study asked the students of NYU "Are you planning to stay in NY after graduation?" In the sample, only 37% answered yes. The study explained that with a 95% ...

In order to fund her retirement helen needs her portfolio

In order to fund her retirement, Helen needs her portfolio to have an expected return of 13.8 percent per year over the next 30 years. She has decided to invest in Stocks 1, 2, and 3, with 25 percent in Stock 1, 50 perce ...

A forest type consists of three species of trees25 are

A forest type consists of three species of trees: 25% are Douglas-fir 40% are Hemlock 35% are Western Red Cedar a) What is the probability that a tree selected at random will be a Douglas-fir? b) What is the probability ...

Toy wooden blocks are packaged in bags of 9 one bag

Toy wooden blocks are packaged in bags of 9. One bag contains 6 maple blocks and 3 birch blocks, while a second bag contains 5 maple blocks and 4 birch blocks. One block is drawn from the first bag and placed into the se ...

The height of 5th grade boys is normally distributed with

The height of 5th grade boys is normally distributed with mean μ=57 inches and standard deviation σ=2 inches. What is the probability that the height of a randomly selected 5th grade boy will be between 53 inches and 61 ...

It has been argued that although there may be more claims

It has been argued that although there may be more claims when road conditions are slippery in the winter, this should not affect the average claim. Malpeque took a sample of 50 claims from the winter of 2018 and found t ...

1nbspis the magnitude of an earthquake related to the depth

1) Is the magnitude of an earthquake related to the depth below the surface at which the quake occurs? Let x be the magnitude of an earthquake (on the Richter scale), and let y be the depth (in kilometers) of the qua ...

Estimate the proportion of people in various states that

Estimate the proportion of people in various states that will use the courior services. Suppose the true proportion is 0.03. If 476 are sampled, what is the probability that the sample proportion will be less than 0.04?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Statistics and Probability Expert