Bob Nale is the owner of Nale’s Quick Fill. Bob would like to estimate the mean
ID: 3073135 • Letter: B
Question
Bob Nale is the owner of Nale’s Quick Fill. Bob would like to estimate the mean number of gallons of gasoline sold to his customers. Assume the number of gallons sold follows the normal distribution with a population standard deviation of 1.90 gallons. From his records, he selects a random sample of 80 sales and finds the mean number of gallons sold is 6.50. What is the point estimate of the population mean? (Round your answer to 2 decimal places.) Develop a 99% confidence interval for the population mean. (Use z Distribution Table.) (Round your answers to 2 decimal places.)
Explanation / Answer
The statistical software output for this problem is:
One sample Z summary confidence interval:
: Mean of population
Standard deviation = 1.9
99% confidence interval results:
Hence,
Point estimate = 6.50
99% confidence interval: (5.95, 7.05)
Mean n Sample Mean Std. Err. L. Limit U. Limit 80 6.5 0.21242646 5.9528257 7.0471743