Suppose an automobile manufacturer designed a radically new lightweight engine and wants to recommend the grade of gasoline that
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Answer:
Step-by-step explanation:
According to the given information, we have
Sample size : n= 50
Since population standard deviation is unknown, so we use t-test.
Critical value for 95 percent confidence interval :
Confidence interval :
Required 95% confidence interval :
Given :
Price of cereal without off, C = $2.88 .
Percentage off, P = 20% .
To Find :
Price after applying 20% off.
Solution :
Final price = Initial price - 20 % of initial price
Therefore, final price after sale is $2.304 .
Hence, this is the required solution.