Estimate the mean price per gallon of regular

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The Energy Information Administration wishes to estimate the mean price per gallon of regular unleaded gasoline. Assume that a random sample of 49 filling stations will be selected. Further assume from historical data that the population standard deviation of the price per gallon of regular unleaded gasoline is $0.10. What is the probability that the sample mean will be within 2 cents of the population mean? (Need full solution)

Reference no: EM132191926

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