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Home Q & A Board Science-Related Homework Help Mathematics Statistics and Probability
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Heybonita Heybonita
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A year ago

Exhibit 9-8
The average gasoline price of one of the major oil companies in Europe has been $1.25 per liter.  Recently, the company has undertaken several efficiency measures in order to reduce prices.  Management is interested in determining whether their efficiency measures have actually reduced prices.  A random sample of 49 of their gas stations is selected and the average price is determined to be $1.20 per liter.  Furthermore, assume that the standard deviation of the population () is $0.14.


Refer to Exhibit 9-8.  The standard error has a value of



▸

0.14



▸

7



▸

2.5



▸

0.02

Textbook 
Essentials of Statistics for Business and Economics

Essentials of Statistics for Business and Economics


Edition: 7th
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silvermoon197silvermoon197
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A year ago
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Heybonita Author
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A year ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
KaylenePig
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Yesterday
Smart ... Thanks!
jamesbove
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2 hours ago
This site is awesome
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