Suppose that mean retail price per gallon of regular grade gasoline is $3.54 with a standard deviation of $0.10 and that the retail price per gallon has a bell-shaped distribution. NOTE: Please use empirical rule approximations for this problem. a. What percentage of regular grade gasoline sells for between $3.44  and $ 3.64 per gallon (to 1  decimal)?   b. What percentage of regular grade gasoline sells for between $ 3.44 and $ 3.74 per gallon (to 1 decimal)?   c. What percentage of regular grade gasoline sells for more than $3.74  per gallon (to  1 decimal)?

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

Suppose that mean retail price per gallon of regular grade gasoline is $3.54 with a standard deviation of $0.10 and that the retail price per gallon has a bell-shaped distribution.

NOTE: Please use empirical rule approximations for this problem.

a. What percentage of regular grade gasoline sells for between $3.44  and $ 3.64 per gallon (to 1  decimal)?

 

b. What percentage of regular grade gasoline sells for between $ 3.44 and $ 3.74 per gallon (to 1 decimal)?

 

c. What percentage of regular grade gasoline sells for more than $3.74  per gallon (to  1 decimal)?

Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
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