Standard error of the mean in this experiment

Reference no: EM13105692

The American Auto Association reports the mean price per gallon of regular gasoline is $3.10 with a population standard deviation of $0.20. Assume a random sample of 16 gasoline stations is selected and their mean cost for regular gasoline is computed. What is the standard error of the mean in this experiment?

Reference no: EM13105692

Questions Cloud

Determining p-values and confidence intervals : Construct a 95% confidence interval for the proportion of votes that Jefferson will receive, and make a conclusion about Jefferson winning election.

Describe step-by-step discrepancy in revenue : County A as well as County B are located equidistant from Business Z. The populations of County A and County B are the same. Income to Business Z is $500,000 per year from County A and $250,000 from County B. Describe step-by-step how you would an..

Explain tenets of progressivism and ways women reformers : Create the essay where you explain tenets of Progressivism and ways women reformers, African American leaders, and government officials put these principles to practice in their respective social.

P-values and confidence intervals : Out of a random sample of 500 individuals who are planning to vote in a student council election, 260 plan on voting for Jefferson and 240 plan on voting for Smith.

Standard error of the mean in this experiment : Assume a random sample of 16 gasoline stations is selected and their mean cost for regular gasoline is computed. What is the standard error of the mean in this experiment?

What are the cultural abd business challenges : What are the cultural, financial, political, technological and business challenges you expect to encounter

How news affect assumptions about the world : Discuss how the news you read or hear may affect your assumptions about the world. Is it possible to find balanced news sources?

Best point estimate for the population mean : Their average age was 19.1 years with a standard deviation of 1.5 years. What is the best point estimate for the population mean?

Management is nothing in excess of motivating : As per to Lee Iacocca, Management is nothing in excess of motivating other people. He further declared that I forgot to shake hands and be friendly

User Account

All Pages