Homework Help is Here – Start Your Trial Now!
Math
Advanced Math
A quick survey of peanut butter prices had standard deviation and mean of $0.26 and $3.68, respectively. What percent of peanut butter jars cost less than $3.50? Enter an integer or decimal number [more..] Submit Question

A quick survey of peanut butter prices had standard deviation and mean of $0.26 and $3.68, respectively. What percent of peanut butter jars cost less than $3.50? Enter an integer or decimal number [more..] Submit Question

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
See similar textbooks
icon
Related questions
Question
Please help
### Educational Exercise: Analyzing Peanut Butter Prices A quick survey of peanut butter prices had a standard deviation and mean of $0.26 and $3.68, respectively. What percent of peanut butter jars cost less than $3.50? #### Instructions: 1. Enter an integer or decimal number reflecting the percent of peanut butter jars costing less than $3.50 in the provided text box. 2. After entering your answer, click on the "Submit Question" button to check your response. ### Explanation: This problem involves understanding the distribution of peanut butter prices based on given statistical measures (mean and standard deviation). The mean price of the peanut butter jars is $3.68, with a standard deviation of $0.26. To find the percentage of jars that cost less than $3.50, you may need to assume a normal distribution and calculate the Z-score for $3.50. Use the Z-score to find the corresponding percentile in a standard normal distribution table (or utilize statistical software or a calculator). #### Z-Score Calculation: \[ Z = \frac{(X - \mu)}{\sigma} \] Where: - \( X \) is the value of interest ($3.50) - \( \mu \) is the mean ($3.68) - \( \sigma \) is the standard deviation ($0.26) Calculate the Z-score as: \[ Z = \frac{(3.50 - 3.68)}{0.26} = -0.69 \] Use this Z-score to find the percentile. Feel free to use the tools and resources taught during the statistics course to solve this problem. Good Luck!
Transcribed Image Text:### Educational Exercise: Analyzing Peanut Butter Prices A quick survey of peanut butter prices had a standard deviation and mean of $0.26 and $3.68, respectively. What percent of peanut butter jars cost less than $3.50? #### Instructions: 1. Enter an integer or decimal number reflecting the percent of peanut butter jars costing less than $3.50 in the provided text box. 2. After entering your answer, click on the "Submit Question" button to check your response. ### Explanation: This problem involves understanding the distribution of peanut butter prices based on given statistical measures (mean and standard deviation). The mean price of the peanut butter jars is $3.68, with a standard deviation of $0.26. To find the percentage of jars that cost less than $3.50, you may need to assume a normal distribution and calculate the Z-score for $3.50. Use the Z-score to find the corresponding percentile in a standard normal distribution table (or utilize statistical software or a calculator). #### Z-Score Calculation: \[ Z = \frac{(X - \mu)}{\sigma} \] Where: - \( X \) is the value of interest ($3.50) - \( \mu \) is the mean ($3.68) - \( \sigma \) is the standard deviation ($0.26) Calculate the Z-score as: \[ Z = \frac{(3.50 - 3.68)}{0.26} = -0.69 \] Use this Z-score to find the percentile. Feel free to use the tools and resources taught during the statistics course to solve this problem. Good Luck!
Expert Solution
steps

Step by step

Solved in 3 steps with 3 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
Basic Technical Mathematics
Basic Technical Mathematics
Advanced Math
ISBN:
9780134437705
Author:
Washington
Publisher:
PEARSON
Topology
Topology
Advanced Math
ISBN:
9780134689517
Author:
Munkres, James R.
Publisher:
Pearson,
SEE MORE TEXTBOOKS