Question

The average price of a gallon of gasoline in Missouri was $3.46 (as of 4-4-13 according to the AAA Daily Fuel Gauge Report). Suppose it is known that o?=1.50. What is the probability that a sample of 96 gas stations taken that same week will have a sample mean within $0.20 of the population mean? (Hint: You may need to use as many as 4+ decimal places in your computations to come up with the correct answer!) 08904 8098 1272 Almost 1 0.0080 0160

Answer 1

1) Given Data, 4= 3.46 0 -0.125 3.of 25 os -- -- o.of de 3.0 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 Die From the graph P(3.26<x< 3.66) - P(3.26-3.46€ X-MC 3.66-3.46) 3.26-3.46 Xall. - 3.66-3.46 3.46 0.125 0.125 = P(-16<<<-6) = P(1.6€ 24-1.6) = P(Z<1.6) -P(<=16) = 0.945 2007- 0.0547993 = 0.8904 ) option A is cogerect

We know that, P(x>55) = P(x-4) where, X=55 a = np Ma 64 *0.9 u= 57.6 o=JOP (1-P) 5:57.6(1-0.9) 557.6 (0.1) 6 = 2.4 - P/ XL 55 - 57.6 P(x>55) = P(*-4, 55-576) EP (Cus 2.) 2.4 Xal -2.6 on =P(ZM-1.08 ) 3 28599 option D iscoggeck