Question

The news listed that the al?rage price Of a gallon Of gasoline

in the city is S3.20 with a margin oferror. Ifthis correct
what two dollar values the average cost of a gallon of gasoline
should be between?

Answer 1

b. between $3.04 and $3.36

Explanation:

Given,

Price of 1 gallon of gasoline = $3.20

Margin of Error = 5%

We have to find out average cost of gallon of gasoline.

For this, we have to find out 5% of the price of gasoline. Which is calculated by dividing 5 by 100 and then multiply it by 3.20.

Amount of margin of error =
`(5)/(100)*3.20 = 0.16`

Hence The margin of error is ±, So we will subtract the amount of margin of error with actual amount of 1 gallon of gasoline. Also we will add the amount of margin of error with actual amount of 1 gallon of gasoline.

Margin of error 1 =
`3.20-0.16= \$3.04`

Margin of error 2 =
`3.20+0.16= \$3.36`

Hence the Average cost of a gallon of gasoline should be between $3.04 and $3.36.