You want to estimate the average gasoline price in your city for a gallon of regular gasoline. You take a simple random sample of prices from 17 gasoline stations, recording an average cost of $2.07 and a standard deviation of $0.06. Assume that the population of these prices is normally distributed. Construct the 95% confidence interval estimate of the population mean. Round your estimates to the nearest cent.
A) $\$ 2.01

Question

You want to estimate the average gasoline price in your city for a gallon of regular gasoline. You take a simple random sample of prices from 17 gasoline stations, recording an average cost of $2.07 and a standard deviation of $0.06. Assume that the population of these prices is normally distributed. Construct the 95% confidence interval estimate of the population mean. Round your estimates to the nearest cent. 
A) $\$ 2.01 < \mu < \$ 2.13$
B) $\$ 2.06 < \mu < \$ 2.08$
C) $\$ 2.04 < \mu < \$ 2.10$
D) $\$ 2.04 < \mu < \$ 2.08$

Quizplus · Accepted Answer

The Answer of You want to estimate the average gasoline price in your city for a gallon of regular gasoline. You take a simple random sample of prices from 17 gasoline stations, recording an average cost of $2.07 and a standard deviation of $0.06. Assume that the population of these prices is normally distributed. Construct the 95% confidence interval estimate of the population mean. Round your estimates to the nearest cent. 
A) $\$ 2.01 < \mu < \$ 2.13$
B) $\$ 2.06 < \mu < \$ 2.08$
C) $\$ 2.04 < \mu < \$ 2.10$
D) $\$ 2.04 < \mu < \$ 2.08$

You Want to Estimate the Average Gasoline Price in Your $2.01<μ<$2.13\$ 2.01 < \mu < \$ 2.13$2.01<μ<$2.13

You Want to Estimate the Average Gasoline Price in Your $\$ 2.01 < \mu < \$ 2.13$