In a sample of 800 gas stations the mean price for a regular gasoline at the pump was 2.816 per gallon on the standard deviation of 0.009 per gallon a random sample size 50 is drawn from this population what is the probability that the mean price per gallon is less than 2.814? EQuestion HelpDetermine if the finite correction factor should be used. If so, use it in your calculations when you find the probabilityIn a sample of 800 gas stations, the mean price for regular gasoline at the pump was $2.816 per gallon and the standard deviation was $0.009 per gallon. A randomsample of size 50 is drawn from this population. What is the probability that the mean price per gallon is less than $2.814?The probability that the mean price per gallon is less than $2.814 is(Round to four decimal places as needed.)ThisEnter your answer in the answer box and then click Check Answer.

It is given that the mean and standard deviation for a regular gasoline at the pump are 2.816 per…

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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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In a sample of 800 gas stations the mean price for a regular gasoline at the pump was 2.816 per gallon on the standard deviation of 0.009 per gallon a random sample size 50 is drawn from this population what is the probability that the mean price per gallon is less than 2.814?

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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