SOLUTION: Bob Nale is the owner of Nale's Texaco GasTown. Bob would like to estimate the mean number of gallons of gasoline sold to his customers. Assume the number of gallons sold follows t

Algebra ->  Probability-and-statistics -> SOLUTION: Bob Nale is the owner of Nale's Texaco GasTown. Bob would like to estimate the mean number of gallons of gasoline sold to his customers. Assume the number of gallons sold follows t      Log On


   

Question 518740: Bob Nale is the owner of Nale's Texaco GasTown. Bob would like to estimate the mean number of gallons of gasoline sold to his customers. Assume the number of gallons sold follows the normal distribution with a standard deviation of 3 gallons. From his records, he selects a random sample of 63 sales and finds the mean number of gallons sold is 8.73.
The 99 percent confidence interval for the population mean is between?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Assume the number of gallons sold follows the normal distribution with a standard deviation of 3 gallons. From his records, he selects a random sample of 63 sales and finds the mean number of gallons sold is 8.73.
The 99 percent confidence interval for the population mean is between?
-------------------------------------------------------
sample mean: 8.73
margin of error: 2.58*3/sqrt(63) = 0.98
----
99%CI: 8.73-0.98 < u < 8.73+0.98
=======================================
Cheers,
Stan H.
====================