An economist uses the price of a gallon of milk as a measure ofinflation. She finds that the average price is $3.62 per gallon and thepopulation standard deviation is $0.33. You decide to sample 40 conveniencestores, collect their prices for a gallon of milk, and compute the mean pricefor the sample.
a. What is the standard error of the mean in this experiment?b. What is the probability that the sample mean is between $3.28and $3.86?c. What is the probability that the difference between the samplemean and the population mean is less than $0.01?
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