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Find out 95% confidence interval

The Minneapolis Star Tribune newspaper has decided to write an article about gasoline prices in the Twin Cities area (Minneapolis and St. Paul). The paper has designed a survey and taken a simple random sample of regular, unleaded gas prices at 35 area stations. The results are in the Area Gas Prices - Random Sample Excel file. Use this data to develop a 95% confidence interval for the average price of regular, unleaded gasoline in the area.


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Hi there,

For regular price in Minneapolis, mean price is 3.34, standard deviation is 0.258. sample size is 35. Critical value for 95% confidence ...

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This solution provides detailed explanation how to find out 95% confidence interval.