At one point the average price of regular unleaded gasoline was ?$3.58 per gallo

Question

At one point the average price of regular unleaded gasoline was ?$3.58 per gallon. Assume that the standard deviation price per gallon is ?$0.09 per gallon and use? Chebyshev's inequality to answer the following. ?(a) What percentage of gasoline stations had prices within 4 standard deviations of the? mean? ?(b) What percentage of gasoline stations had prices within 2.5 standard deviations of the? mean? What are the gasoline prices that are within 2.5 standard deviations of the? mean? ?(c) What is the minimum percentage of gasoline stations that had prices between ?$3.40 and ?$3.76?? ?(a) At least nothing?% of gasoline stations had prices within 4 standard deviations of the mean. ?(Round to two decimal places as? needed.) ?(b) At least nothing?% of gasoline stations had prices within 2.5 standard deviations of the mean. ?(Round to two decimal places as? needed.) The gasoline prices that are within 2.5 standard deviations of the mean are ?$ nothing to ?$ nothing. ?(Use ascending? order.) ?(c) nothing?% is the minimum percentage of gasoline stations that had prices between $ 3.40 and ?$3.76. ?(Round to two decimal places as? needed.)

Explanation / Answer

a) percentage of gasoline stations had prices within 4 standard deviations of the? mean=(1-1/42)*100=93.75%
b) percentage of gasoline stations had prices within 2.5 standard deviations of the? mean=(1-1/2.52)*100=84%

gasoline prices that are within 2.5 standard deviations of the? mean =mean -/+2.5*std deviaiton =3.355 ; 3.805

c)as  ?$3.40 and ?$3.76 are 2 std deviation from mean

minimum percentage of gasoline stations that had prices between ?$3.40 and ?$3.76=(1-1/22)*100=75%

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