The cost of a gallon of gas is normally distributed with a mean of $3.90 and standard deviationof $0.45.A) What is the probability that a randomly selected value is below $3.05?B) What is the probability that the mean of 30 randomly selected prices is above $3.95?C) What price would represent the 90th percentile of all gas prices?D) What is the mean and standard deviation of a sampling distribution of 50 gas prices?E) A gas station has priced their gas at $5.10. Using statistics, what would you tell someonewho wants to buy gas from that gas station. Your answer must use statistics, not just "itsexpensive."

Given:Mean (µ) = 3.90Standard deviation (σ) = 0.45

Answered: The cost of a gallon of gas is normally…

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...

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