ind the probability and interpret the results. If convenient, use technology to find the probability During a certain week the mean price of gasoline was $2.717 per gallon. A random rawn from this population. What is the probability that the mean price for the sample was between $2.696 and $2.727 that week? Assume o = $0.043. E Click the icon to view page 1 of the standard normal table. Click the icon to view page 2 of the standard normal table. e probability that the sample mean was between $2.696 and $2.727 is. ound to four decimal places as needed) erpret the results. Choose the correct answer below. A. About 8% of the population of 36 gas stations that week will have a mean price between $2.696 and $2.727. B. About 92% of samples of 36 gas stations that week will have a mean price between $2.696 and $2.727. C. About 92% of the population of 36 gas stations that week will have a mean price between $2.696 and $2.727 D Ahout 8% of samples of 36 gas stations that week will have a mean price between $2.696 and $2.727

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
icon
Related questions
icon
Concept explainers
Question
Find the probability and interpret the results. If convenient, use technology to find the probability. During a certain week the mean price of gasoline was $2.717 per gallon. A random sample of 36 gas stations is
drawn from this population. What is the probability that the mean price for the sample was between $2.696 and $2.727 that week? Assume o = $0.043.
Click the icon to view page 1 of the standard normal table.
E Click the icon to view page 2 of the standard normal table.
The probability that the sample mean was between $2.696 and $2.727 is
(Round to four decimal places as needed.)
Interpret the results. Choose the correct answer below.
O A. About 8% of the population of 36 gas stations that week will have a mean price between $2.696 and $2.727
O B. About 92% of samples of 36 gas stations that week will have a mean price between $2.696 and $2.727
OC. About 92% of the population of 36 gas stations that week will have a mean price between $2.696 and $2.727
O D. About 8% of samples of 36 gas stations that week will have a mean price between $2.696 and $2.727.
Transcribed Image Text:Find the probability and interpret the results. If convenient, use technology to find the probability. During a certain week the mean price of gasoline was $2.717 per gallon. A random sample of 36 gas stations is drawn from this population. What is the probability that the mean price for the sample was between $2.696 and $2.727 that week? Assume o = $0.043. Click the icon to view page 1 of the standard normal table. E Click the icon to view page 2 of the standard normal table. The probability that the sample mean was between $2.696 and $2.727 is (Round to four decimal places as needed.) Interpret the results. Choose the correct answer below. O A. About 8% of the population of 36 gas stations that week will have a mean price between $2.696 and $2.727 O B. About 92% of samples of 36 gas stations that week will have a mean price between $2.696 and $2.727 OC. About 92% of the population of 36 gas stations that week will have a mean price between $2.696 and $2.727 O D. About 8% of samples of 36 gas stations that week will have a mean price between $2.696 and $2.727.
Expert Solution
steps

Step by step

Solved in 2 steps with 3 images

Blurred answer
Knowledge Booster
Continuous Probability Distribution
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, probability and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
Probability
ISBN:
9780134753119
Author:
Sheldon Ross
Publisher:
PEARSON
A First Course in Probability
A First Course in Probability
Probability
ISBN:
9780321794772
Author:
Sheldon Ross
Publisher:
PEARSON