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Nostrana [21]
3 years ago
11

Suppose Riley is interested in the cost of a gallon of gas in her state. She finds the cost of a gallon of regular gas at 61 ran

domly selected gas stations and calculates the mean price of gas to be $2.62. The standard error of the mean is $0.05. What is the standard deviation of the sample ( ???? )? Please round your answer to two decimal places.
Mathematics
1 answer:
hichkok12 [17]3 years ago
5 0

Answer:

The standard deviation of the sample is 0.0064.

Step-by-step explanation:

The standard deviation of a sample of length n of a population with standard deviation \sigma is given by the following formula:

s = \frac{\sigma}{\sqrt{n}}

In this problem, we have that:

61 randomly selected gas stations. This means that n = 61

The standard error of the mean is $0.05. This means that \sigma = 0.05.

What is the standard deviation of the sample?

s = \frac{\sigma}{\sqrt{n}} = \frac{0.05}{\sqrt{61}} = 0.0064

The standard deviation of the sample is 0.0064.

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