Prepares reports on gasoline prices , Basic Statistics

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 de-viation 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% con dence.

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.

Posted Date: 3/30/2013 7:40:42 AM | Location : United States







Related Discussions:- Prepares reports on gasoline prices , Assignment Help, Ask Question on Prepares reports on gasoline prices , Get Answer, Expert's Help, Prepares reports on gasoline prices Discussions

Write discussion on Prepares reports on gasoline prices
Your posts are moderated
Related Questions
midpoint of class containing highest frequency

#question An electronic assembly is subjected to a final functional test. Suppose that defects occur at random in these assemblies, and that these defects occur according to a Pois

How has quantitative analysis changed the current scenario in the management world today?

List down various measures of central tendency and explain the difference between them?

1. (i) Complaints were made about the level of pollutants in the discharge from a certain factory.  The factory refuted the complaints by showing the results of their own analysis

Hugh Snore Bedding, Inc. has assets of $400,000 and turns over its assets 1.5 times per year. Return on assets is 12%. What is its profit margin (return on sales)?


Your company operates a machine shop, and, having heard you had experience in statistics and design of experiments, consulted you for your opinion on an experiment they want to run

what are the funtions of quantitative techniques

We find the correlation coefficient and plot the scatter plot using excel as follows:   Time in Waiting Room      Heart Rate