Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. the u.s. energy information administration (us eia

The U.S. Energy Information Administration (US EIA) reported that the average price for a gallon of...

70.2K

Verified Solution

Question

Basic Math

The U.S. Energy Information Administration (US EIA) reportedthat the average price for a gallon of regular gasoline is $3.95 .The US EIA updates its estimates of average gas prices on a weeklybasis. Assume the standard deviation is $.24 for the price of agallon of regular gasoline and recommend the appropriate samplesize for the US EIA to use if they wish to report each of thefollowing margins of error at 95%confidence. Round up to the nextwhole number.

a. The desired margin of error is $.09 Theappropriate sample size is ____ .

b. The desired margin of error is $.06 Theappropriate sample size is ____ .

c. The desired margin of error is $.05 Theappropriate sample size is ____.

Answer & Explanation Solved by verified expert
4.1 Ratings (552 Votes)
Solution Given thatstandard deviation 024At 95 confidence level the z is 1 95 1    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

Your Aunt Carole has come to you and your classmates for help with her new...

Finance
1.2K views

Discuss the status of income tax and sales tax in context of leasing in india ?...

Statistics
1.2K views

A manufacturer knows that their items have a normally distributed lifespan, with a mean of 7.8...

Medical Sciences
1.2K views

A 48-year-old man complaining of impotence sought medical attention. Over the years, he has experienced increased...

Advance Math
1.2K views

Use Laplace transforms to solve the system. x' - 5x - 4y = 0 x(0) =...

Advance Math
1.2K views

1.Define directional derivatives and the gradient vector in your own words and use material from the...

Biology
1.2K views

Y Part A Which structures are highlighted Dorsal roots of spinal cord Submit Previous Answers...

Physics
1.2K views

Paraxial ray is that incident ray which is 1 Any ray parallel to principle axis...

Geometry
1.2K views

13 Examine parallelogram QUAD below D 6x 12 Q B x 11 Select all of...

Accounting
1.2K views

Homework - Chapter 16 The law firm of Prawitt and Bradford accumulates...

Accounting
1.2K views

The following selected transactions are from Ohlde Company: 2014 Dec. 16 Accepted a $15,000, 60-day,...

Accounting
1.2K views

Only need the answers for the 2 red X's Pleae...