According to United States Department of Agriculture, the average retail price of conventional whole milk at New York City in the year 2020 (up to November 2020 considered) is $3.92 per gallon. The standard deviation in the retail prices in the year 2020 (up to November 2020 considered) is $0.084. You are given a task of selecting randomly a sample of 85 milk bottles (whole milk of 1 gallon volume). a. Calculate µx̅ and σx̅. b. What is the approximate probability that the sample has a mean retail price that exceeds $4.05? c. What is the approximate probability that the sample has a mean retail price between $3.91 and $3.94?
According to United States Department of Agriculture, the average retail price of conventional whole milk at New York City in the year 2020 (up to November 2020 considered) is $3.92 per gallon. The standard deviation in the retail prices in the year 2020 (up to November 2020 considered) is $0.084. You are given a task of selecting randomly a sample of 85 milk bottles (whole milk of 1 gallon volume). a. Calculate µx̅ and σx̅. b. What is the approximate probability that the sample has a mean retail price that exceeds $4.05? c. What is the approximate probability that the sample has a mean retail price between $3.91 and $3.94?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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According to United States Department of Agriculture, the average retail price of conventional whole milk at New York City in the year 2020 (up to November 2020 considered) is $3.92 per gallon. The standard deviation in the retail prices in the year 2020 (up to November 2020 considered) is $0.084. You are given a task of selecting randomly a sample of 85 milk bottles (whole milk of 1 gallon volume).
a. Calculate µx̅ and σx̅.
b. What is the approximate probability that the sample has a mean retail price that exceeds $4.05?
c. What is the approximate probability that the sample has a mean retail price between $3.91 and $3.94?
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