Determine a 99 percent confidence interval for the

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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 2.799 per gallon. The sample standard deviation was $0.03 per gallon.

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

B. Would it be reasonable to conclude that the population mean was $2.50? Why or why not?

Reference no: EM13616688

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