We wish to estimate the mean price of gasoline (per gallon) at gas stations across Saskatchewan, assuming that these prices are normally distributed with a population standard deviation of 16.7 cents. We want to determine the minimum sample size that is required, if we want our 99% interval estimate to have a maximum error of 2.5 cents. Note: For the calculation below, choose the appropriate z-score value from the following list: 1.05, 1.28, 1.44, 1.645, 1.88, 1.96, 2.1, 2.33, 2.575 The minimum sample size is = What are we actually sampling? In other words, what does the sample size refer to? We are sampling 'n' ...: ?

MATLAB: An Introduction with Applications
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Author:Amos Gilat
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We wish to estimate the mean price of gasoline
(per gallon) at gas stations across Saskatchewan,
assuming that these prices are normally
distributed with a population standard deviation of
16.7 cents.
We want to determine the minimum sample size
that is required, if we want our 99% interval
estimate to have a maximum error of 2.5 cents.
Note: For the calculation below, choose the
appropriate z-score value from the following list:
1.05, 1.28, 1.44, 1.645, 1.88, 1.96, 2.1, 2.33, 2.575
The minimum sample
is
What are we actually sampling? In other words,
what does the sample size refer to?
We are sampling 'n' ..:
Dor
gallons of gasoline
gas stations
cents
dollars
people
Transcribed Image Text:We wish to estimate the mean price of gasoline (per gallon) at gas stations across Saskatchewan, assuming that these prices are normally distributed with a population standard deviation of 16.7 cents. We want to determine the minimum sample size that is required, if we want our 99% interval estimate to have a maximum error of 2.5 cents. Note: For the calculation below, choose the appropriate z-score value from the following list: 1.05, 1.28, 1.44, 1.645, 1.88, 1.96, 2.1, 2.33, 2.575 The minimum sample is What are we actually sampling? In other words, what does the sample size refer to? We are sampling 'n' ..: Dor gallons of gasoline gas stations cents dollars people
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