In a sample of 700 gas stations, the meanprice for regular gasoline at the pump

Question

  In a sample of 700 gas stations, the meanprice for regular gasoline at the pump was $2.851 per gallon andthe standard deviation was $0.009 per gallon. A random sampleof size 50 is drawn from the populaion. What is theprobability that the mean price per gallon is less than$2.848?
What is the probability that the mean price per gallon isless than $2.848?     In a sample of 700 gas stations, the meanprice for regular gasoline at the pump was $2.851 per gallon andthe standard deviation was $0.009 per gallon. A random sampleof size 50 is drawn from the populaion. What is theprobability that the mean price per gallon is less than$2.848?
What is the probability that the mean price per gallon isless than $2.848?  

Explanation / Answer

By Central Limit Theorem meanprice per gallon Xbar will benormal Xbar~(=2.851,=.009/50) Let Z=(Xbar-2.851)/.00127 P(Xbar<2.848)=P(Z<-2.3622)=.009083

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