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August 21, 2014

August 21, 2014

Posted by **aaron** on Monday, October 19, 2009 at 10:12pm.

1. What is the probability that the mean price for a sample of 30 service stations is within $.03 of the population mean (to 4 decimals)?

2. What is the probability that the mean price for a sample of 50 service stations is within $.03 of the population mean (to 4 decimals)?

3. What is the probability that the mean price for a sample of 100 service stations is within $.03 of the population mean (to 4 decimals)?

4. Calculate the sample size necessary to guarantee at least .95 probability that the sample mean is within $.03 of the population mean (0 decimals).

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