Answer:
The standard deviation of the sample is 0.0064.
Step-by-step explanation:
The standard deviation of a sample of length n of a population with standard deviation [tex]\sigma[/tex] is given by the following formula:
[tex]s = \frac{\sigma}{\sqrt{n}}[/tex]
In this problem, we have that:
61 randomly selected gas stations. This means that [tex]n = 61[/tex]
The standard error of the mean is $0.05. This means that [tex]\sigma = 0.05[/tex].
What is the standard deviation of the sample?
[tex]s = \frac{\sigma}{\sqrt{n}} = \frac{0.05}{\sqrt{61}} = 0.0064[/tex]
The standard deviation of the sample is 0.0064.
