Regular gasoline averaged $2.43 per gallon in August 2018. Assume the standard deviation for gasoline prices is $0.11 per gallon. A random sample of 40 service stations was selected. Complete parts a through d. ... a. What is the probability that the sample mean will be less than $2.42? The probability that the sample mean will be less than $2.42 is 0.2843. (Type an integer or decimal rounded to four decimal places as needed.) b. What is the probability that the sample mean will be more than $2.46? The probability that the sample mean will be more than $2.46 is (Type an integer or decimal rounded to four decimal places as needed.)

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
Regular gasoline averaged $2.43 per gallon in August 2018. Assume the standard deviation for gasoline prices is $0.11
per gallon. A random sample of 40 service stations was selected. Complete parts a through d.
201
a. What is the probability that the sample mean will be less than $2.42?
The probability that the sample mean will be less than $2.42 is 0.2843.
(Type an integer or decimal rounded to four decimal places as needed.)
b. What is the probability that the sample mean will be more than $2.46?
The probability that the sample mean will be more than $2.46 is
(Type an integer or decimal rounded to four decimal places as needed.)
View an example Get more help -
Clear all
Check answer
Transcribed Image Text:Regular gasoline averaged $2.43 per gallon in August 2018. Assume the standard deviation for gasoline prices is $0.11 per gallon. A random sample of 40 service stations was selected. Complete parts a through d. 201 a. What is the probability that the sample mean will be less than $2.42? The probability that the sample mean will be less than $2.42 is 0.2843. (Type an integer or decimal rounded to four decimal places as needed.) b. What is the probability that the sample mean will be more than $2.46? The probability that the sample mean will be more than $2.46 is (Type an integer or decimal rounded to four decimal places as needed.) View an example Get more help - Clear all Check answer
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman