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Cloud [144]
3 years ago
7

Suppose you are told that a 95% confidence interval for the average price of a gallon of regular gasoline in your state is from

$3.05 to $3.92. 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.)
Mathematics
1 answer:
Cloud [144]3 years ago
8 0

Answer:

The sample mean is 3.48 and the margin of error is 0.44.

Step-by-step explanation:

We know that the confidence interval is written in the form "x − E to x + E", meaning x: sample mean or estimator, and E: margin of error.

To calculate the mean, we can calculate the average of both bounds of the confidence interval:

X=(UL-LL)/2=(3.92+3.05)/2=6.97/2=3.48

With one of the bounds, we can calculate the margin of error E

UL=X+E\\\\E=UL-X=3.92-3.48=0.44

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