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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 is given by the following formula:
In this problem, we have that:
61 randomly selected gas stations. This means that
The standard error of the mean is $0.05. This means that .
What is the standard deviation of the sample?
The standard deviation of the sample is 0.0064.