Calculation of confidence interval-t-distribution

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Reference no: EM13105204

1. A recent study of 50 self-service gasoline stations in the Greater Cincinnati' Northern Kentucky metropolitan area revealed that the mean price of unleaded gas was $2.029 per gallon. The sample standard deviation was $0.03 per gallon.

Determine a 99 percent confidence interval for the population mean price.

2. The Badik Construction Company limits its business to constructing decks. The mean time to construct one of their standard decks is 8 hours for a two-person construction crew. The information is based on a sample of 40 decks recently constructed. The standard deviation of the sample was 3 hours.

Determine a 90 percent confidence interval for the population mean.

Describe how to find Confidence interval on the t-table.

Reference no: EM13105204

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