1. 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?
2. 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 likelihood the sample mean is greater than $3.08?
3. A population consists of 14 values. How many samples of size five are possible?
4. A local grocery store wants to estimate the mean daily number of gallons of milk sold to customers. Assume the number of gallons sold follows the normal distribution with a population standard deviation of 5.10 gallons. A random sample of 60 days shows that the mean daily number of gallons sold is 10.00. Compute a 99 percent confidence interval for the population mean.
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