Home / Expert Answers / Statistics and Probability / the-u-s-energy-information-administration-us-eia-reported-that-the-average-price-for-a-gallon-o-pa550

(Solved): The U.S. Energy Information Administration (US EIA) reported that the average price for a gallon o ...



The U.S. Energy Information Administration (US EIA) reported that the average price for a gallon of regular gasoline is \( \$

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 recomente 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 \( \$ 0.04 \).


We have an Answer from Expert

View Expert Answer

Expert Answer


Solution: Given that, CI=95%?=$0.25 Det
We have an Answer from Expert

Buy This Answer $5

Place Order

We Provide Services Across The Globe