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Question 12 The Census Bureau of the US Department of Commerce estimated that average e-commerce sales for US retailers in the second quarter of 2011 had increased by 4.0 percent from the first quarter of 2011. Along with the estimate, a margin of error of 1.2 percent (at the 95% confidence level) was reported. Please show the upper and lower bounds for the 95% confidence level.

Question 12 The Census Bureau of the US Department of Commerce estimated that average e-commerce sales for US retailers in the second quarter of 2011 had increased by 4.0 percent from the first quarter of 2011. Along with the estimate, a margin of error of 1.2 percent (at the 95% confidence level) was reported. Please show the upper and lower bounds for the 95% confidence level.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Question 12 The Census Bureau of the US Department of Commerce estimated that average e-commerce sales for US retailers in the second quarter of 2011 had increased by 4.0 percent from the first quarter of 2011. Along with the estimate, a margin of error of 1.2 percent (at the 95% confidence level) was reported. Please show the upper and lower bounds for the 95% confidence level. Question 13 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 11 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. Type your answer
Transcribed Image Text:Question 12 The Census Bureau of the US Department of Commerce estimated that average e-commerce sales for US retailers in the second quarter of 2011 had increased by 4.0 percent from the first quarter of 2011. Along with the estimate, a margin of error of 1.2 percent (at the 95% confidence level) was reported. Please show the upper and lower bounds for the 95% confidence level. Question 13 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 11 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. Type your answer
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