Determine if the finite correction factor should be used. If so, use it in your calculations when you find the probability. In a sample of 900 gas stations, the mean price for regular gasoline at the pump was $2.812 per gallon and the standard deviation was $0.008 per gallon. A random sample of size 55 is drawn from this population. What is the probability that the mean price per gallon is less than $2.809? ..... The probability that the mean price per gallon is less than $2.809 is. (Round to four decimal places as needed.)
Determine if the finite correction factor should be used. If so, use it in your calculations when you find the probability. In a sample of 900 gas stations, the mean price for regular gasoline at the pump was $2.812 per gallon and the standard deviation was $0.008 per gallon. A random sample of size 55 is drawn from this population. What is the probability that the mean price per gallon is less than $2.809? ..... The probability that the mean price per gallon is less than $2.809 is. (Round to four decimal places as needed.)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
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Transcribed Image Text:**Determine if the finite correction factor should be used. If so, use it in your calculations when you find the probability.**
In a sample of 900 gas stations, the mean price for regular gasoline at the pump was $2.812 per gallon and the standard deviation was $0.008 per gallon. A random sample of size 55 is drawn from this population. What is the probability that the mean price per gallon is less than $2.809?
The probability that the mean price per gallon is less than $2.809 is _______.
(Round to four decimal places as needed.)
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**Instructions for Solving:**
1. **Determine Sample Proportions:** Since the sample size is 55 from a population of 900, consider using the finite correction factor if necessary.
2. **Use Appropriate Statistical Methods:** Compute the probability using the provided mean, standard deviation, and sample size.
3. **Calculate the Z-Score:** Use the standard error and mean to find the Z-score for $2.809.
4. **Find the Probability:** Use the Z-score to determine the probability from standard normal distribution tables or statistical software.
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