SOLUTION: Need help with Margin of Error
Suppose you are told that a 95% confidence interval for the average price of a gallon of regular gasoline in your state is from $3.26 to $3.94. Us
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-> SOLUTION: Need help with Margin of Error
Suppose you are told that a 95% confidence interval for the average price of a gallon of regular gasoline in your state is from $3.26 to $3.94. Us
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Question 1079546: Need help with Margin of Error
Suppose you are told that a 95% confidence interval for the average price of a gallon of regular gasoline in your state is from $3.26 to $3.94. Use the fact that the confidence interval for the mean is in the form x − E to x + E to compute the sample mean and the maximal margin of error E. (Round your answers to two decimal places.)
x = $
3.60
You can put this solution on YOUR website! Need help with Margin of Error
Suppose you are told that a 95% confidence interval for the average price of a gallon of regular gasoline in your state is from $3.26 to $3.94. Use the fact that the confidence interval for the mean is in the form x − E to x + E to compute the sample mean and the maximal margin of error E. (Round your answers to two decimal places.)
x = $
3.60
Correct: Your answer is correct.
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Note:: The Confidence Interval is 2*E wide.
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E = (3.96-3.26)/2 = 0.68/2 = 0.34
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Cheers,
Stan H.
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