Answered: George Smith own's George's Joint, a…

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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George Smith own's George's Joint, a gas station and convenience store. George is trying to get a better understanding of his business and wants to estimate the mean number of gallons of gasoline sold to his customers. Assume the number of gallons of gasoline sold follows a normal distribution with a population standard deviation of 2.3 gallons. From his records, he randomly selects 60 sales and find the mean number of gallons sold is 8.6.

Develop a 99% confidence interval for the population mean.

What is the lower boundary? (your answer should be in the format x.xx)

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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