The U.S. Energy Information Administration (US EIA) reported that the average price for a liter of regular gasoline is $0.78. The US EIA updates its estimates of average gas prices on a weekly basis. Assume the standard deviation is $0.06 for the price of a liter 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 to the nearest whole number.) (a) The desired margin of error is $0.04. (b) The desired margin of error is $0.03. (c) The desired margin of error is $0.01.

The U.S. Energy Information Administration (US EIA) reported that the average price for a liter of regular gasoline is $0.78. The US EIA updates its estimates of average gas prices on a weekly basis. Assume the standard deviation is $0.06 for the price of a liter 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 to the nearest whole number.) (a) The desired margin of error is $0.04. (b) The desired margin of error is $0.03. (c) The desired margin of error is $0.01.

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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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You may need to use the appropriate appendix table or technology to answer this question. 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 to the nearest whole number.) (a) The desired margin of error is $0.10. (b) The desired margin of error is $0.06. (c) The desired margin of error is $0.04.