You want to estimate the average gas price in your city for a litre of regular unleaded gasoline.From your sample of 15 gas stations,you calculate a 95% confidence interval of ($1.34,$1.40)
A) You are 95% sure that the average price for a litre of regular unleaded gasoline in your city is between $1.34 and $1.40.
B) You are 95% confident that the average price for a litre of regular unleaded gasoline in the country is within $0.03 of $1.37.
C) You are 95% sure that gas stations in this sample have average costs between $1.34 and $1.40.
D) 95% of all samples of gas stations will have average costs between $1.34 and $1.40.
E) If you took many samples of gas stations in your city,about 95% of them would produce this confidence interval.
Correct Answer:
Verified
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