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Mathematics, 15.02.2021 20:00 jacquelineS7691
You have a data set with a Gas Price variable. It lists the price of a gallon of regular gasoline at a randomly selected 100 gas stations around the country in a particular week. You calculate a 95% confidence interval for the mean of Gas Price, and it turns out to be $2.43 plus or minus $0.16. Which of the following most closely reflects what you can conclude? a. If your sample size had been 400, and you had observed the same sample mean but a sample standard deviation twice as large as in your original sample, the 95% confidence interval would have been approximately $2.43 plus or minus $0.08. b. If your sample size had been 400 and you had obtained the same sample mean and sample standard deviation as in your original sample, the 95% confidence interval would have been approximately $2.43 plus or minus $0.08. c. If you had observed the same sample mean and sample size, but a sample standard deviation twice as large as the one you observed, the 95% confidence interval would have been approximately $2.43 plus or minus $0.24. d. If you had observed the same sample mean and sample size, but a sample standard deviation half as large as the one you observed, the 95% confidence interval would have been approximately $2.43 plus or minus $0.04.
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