You are presented with the following reports estimating the mean increase in monthly household spending on gasoline over the past six months


You are presented with the following reports estimating the mean increase in monthly household spending on gasoline over the past six months

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You are presented with the following reports estimating the mean increase in monthly household spending on gasoline over the past six months. Determine which report you find most convincing and explain your reasoning.

1. Based on a simple radom sample of 15​ households, we are​ 98% confident that the mean increase in monthly household spending on gasoline over the past six months is between​ $43.65 and​ $58.93.

2. Based on a simple random sample of 52​ households, we are​ 95% confident that the mean increase in monthly household spending on gasoline over the past six months is between​ $48.82 and​ $52.10.

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