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Category > Statistics Posted 19 Jun 2017 My Price 5.00

An analyst from an energy research institute in California wishes to precisely estimate a 99% confidence interval

An analyst from an energy research institute in California wishes to precisely estimate a 99% confidence interval of the average price of unleaded gasoline in the state. In particular, she does not want the sample mean to deviate from the population mean by more than $0.06. What is the minimum number of gas stations that she should include in her sample if she uses the standard deviation estimate of $0.32, as reported in the popular press?

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Alpha Geek
(8)
Status NEW Posted 19 Jun 2017 10:06 AM My Price 5.00

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file 1497868973-2233164_1_636334312808052024_sample-size.xlsx preview (150 words )
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