Question

The Lundberg Survey monitors gas prices at gas stations nationwide. In a recent month, Lundberg reported that the average regular gas price for the stations it surveyed was $3.40 per gallon. Assume the population distribution of gas prices is normal. The sample size was 24 stations. Because the population standard deviation is unknown, the researchers calculated a sample standard deviation of $.14. Please build a 90% confidence interval estimate of the average price of a gallon of gas for the population of gas stations nationwide. Please round your final answer to the nearest penny.

Answer #1

An owner of a gas station chain claimed that there was no
difference in gas prices between gas stations on the east coast and
gas stations on the west coast. A skeptical consumer believed that
prices on the east coast were higher. The consumer collected two
samples from both coasts. In the east coast sample, the sample size
was 45 and the average price was $2.45 per gallon. The population
standard deviation for east coast gas prices is believed to...

3. A company that supplies gasoline nationwide reports that the
average price per gallon of regular gasoline is $ 8,150, with a
standard deviation of $ 428. There are 750 gasoline stations in the
country. Suppose a random sample from 40 gas stations is
selected.
b. What is the mean or expected value of the sample distribution
of the means?
c. What is the standard error of the sample distribution of the
means?
d. Write the syntax for the sample...

You want to estimate the average gas price in your city for a
gallon of regular gas. You take a random sample of prices from 15
gas stations , recording an average cost of $2.53 and a standard
deviation of $0.12. Create a 99% confidence interval for the mean
price per gallon of gas.

A recent study of 34 gas stations in a large city revealed the
mean price of unleaded gas was $0.87 per litre, with a population
standard deviation of $0.02 per litre. Construct the 90% confidence
interval for the population mean. Type your final answer, rounded
to two decimal places, into the second blank, and the unit into the
first blank. Answer: Between and .

The average gasoline price at Chevron was $3.12 per gallon last
month. Due to the recent nation-wide gas price drop, the chief
marketing officer of Chevron believes that there has been a
significant reduction in the average gas price. In
order to test his belief, he randomly selected a sample of 36 of
Chevron gas stations and found the average gas price of these
stations was $3.06. Assume that the population standard deviation
of the population is $0.12, and the...

Anne reads that the average price of regular gas in her state is
$4.06 per gallon. To see if the average price of gas is different
in her city, she selects 10 gas stations at random and records the
price per gallon for regular gas at each station. The data, along
with the sample mean and standard deviation, are listed in the
table below.
Station 1 2 3 4 5 6 7 8 9 10
Price ($) 4.13 4.01...

A recent study reported that for a sample of 50 kitchens with
gas cooking appliances monitored during a one-week period, the
sample mean CO2 level (ppm) was 726.15, and the sample standard
deviation was 133.56.
a) Calculate and interpret 90%, 95% and 99% confidence interval
for true average CO2 level in the population of all homes from
which the sample was selected.
b) Approximating population standard deviation with sample
standard deviation, what sample size would be necessary to obtain
an...

Paki surveyed the price of unleaded gasoline (self-serve) at gas
stations in Novato and Lafayette. The raw data, in dollars per
gallon, are given in the following table.
Novato
2.889
3.089
3.429
2.969
2.989
3.109
Lafayette
3.599
3.379
3.199
3.199
3.549
3.349
(a) Find the mean price in each city. (Round your answers to
three decimal places.)
Novato
$
Lafayette
$
Which city has the lowest mean?
NovatoLafayette
(b) Find the standard deviation of prices in each city. (Round your...

The U.S. Energy Information Administration (US EIA) reported
that the average price for a gallon of regular gasoline is $2.94.
The US EIA updates its estimates of average gas prices on a weekly
basis. Assume the standard deviation is $0.25 for the price of a
gallon of regular gasoline and recommend the appropriate sample
size for the US EIA to use if they wish to report each of the
following margins of error at 95% confidence. (Round your answers
up...

The Canadian Energy industry recently reported that the average
price for a litre of gasoline in Vancouver is $1.09. They
determined this by sampling a total of 28 different gas stations,
finding the standard deviation of these gas stations in the sample
to be $0.06 cents. a) Create a 72% confidence interval
for the population parameter of interest in this case. Be sure to
show your work . b) Create a 96% confidence interval for
the population parameter of interest...

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