The average price for a gallon of gasoline in the United States is $3.73 and in Russia itis $3.40 (Bloomberg Businessweek, March 5–March 11, 2012). Assume these averagesare the population means in the two countries and that the probability distributions arenormally distributed with a standard deviation of $.25 in the United States and a standarddeviation of $.20 in Russia.a. what is the probability that a randomly selected gas station in the United Statescharges less than $3.50 per gallon?b. what percentage of the gas stations in Russia charge less than $3.50 per gallon?c. what is the probability that a randomly selected gas station in Russia charged morethan the mean price in the United States?
The average price for a gallon of gasoline in the United States is $3.73 and in Russia it
is $3.40 (Bloomberg Businessweek, March 5–March 11, 2012). Assume these averages
are the population means in the two countries and that the
normally
deviation of $.20 in Russia.
a. what is the probability that a randomly selected gas station in the United States
charges less than $3.50 per gallon?
b. what percentage of the gas stations in Russia charge less than $3.50 per gallon?
c. what is the probability that a randomly selected gas station in Russia charged more
than the mean price in the United States?
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