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[answered] A random sample of the price of gasoline from 40 gas statio


A random sample of the price of gasoline from 40?gas stations in a region gives the statistics below. Complete parts a) and b).?

ybar =?$3.29,?s =?$0.25


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 80?stations, what would the 95% confidence interval be now? __, __??(Round to three decimal places as needed.)


a. za/2 = 1.96

 

3.49 +/- 1.96*.23/sqrt 40

 

3.49 +/- .07

 

Lower limit: 3.49 - .07 = 3.42

 

UPper limit: 3.49 + .07 = 3.56

 

Confidence interval: (3.42, 3.56)

 

b. za/2 = 1.64485

 

3.49 +/- 1.64485*.23/sqrt 40...

 


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