You want to estimate the average gas price in your city for a litre of regular unleaded gasoline with 95% confidence.You believe that the standard deviation of prices is $0.05.If you wish to achieve a margin of error no larger than $0.02,how many gas stations should you sample?

A) 25
B) 28
C) 27
D) 24
E) 26

Margin of Error

The margin of error is a statistic expressing the amount of random sampling error in a survey's results, indicating the range within which the true population parameter is expected to lie with a certain level of confidence.

Standard Deviation

a statistic that measures the dispersion of a dataset relative to its mean, indicating how spread out the numbers are.

Gas Stations

Retail establishments that sell fuel and often other services or goods for motor vehicles.