Secure MA108 886 162s-Elements of Statistics Spring 2117 Quiz: Chapter 5 Review

Question

Secure MA108 886 162s-Elements of Statistics Spring 2117 Quiz: Chapter 5 Review Quiz This Quiz: 15 pts possible This Question: 1 pt 9 of 15 (8 complete cetemine f the frite correction factorshould teused Rso use n your cakuatons when you find the probablity. In a sample of 700 gas stations, the mean price for regular gasolne atthe pump was that the and the standard less than $2824? Pet galon A sample of size 45 s drawn tom this population what the mean per The probabity that the mean pnce per gallon is less than $2.824 is Round to four decimal places as needed Enter your answer in the answer box

Explanation / Answer

Answer:

Standard error = sd/sqrt(n) = 0.009/sqrt(45) =0.001342

Standard error with finite population correction se = 0.001342*sqrt((700-45)/(700-1))

=0.001299

=0.0013

Z value for 2.824, z = (2.824-2.825)/0.0013 = -0.77

P( mean x < 2.824) = P( z < -0.77)

=0.2206

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