Find the probability and interpret the results. If convenient, use technology to

Question

Find the probability and interpret the results. If convenient, use technology to find the probability. During a certain week the mean price of gasoline was $2.716 per gallon. A random sample of 36 gas stations is drawn from this population. What is the probability that the mean price for the sample was between $2.694 and $2.717 that week? Assume sigma = $0.046. Click the icon to view page 1 of the standard normal table. Click the icon to view page 2 of the standard normal table. The probability that the sample mean was between $2.694 and $2.717 is (Round to four decimal places as needed.)

Explanation / Answer

std of the sample means =$0.046/sqrt(36)

=$ 0.0077

The probability of sample mean was between $2.694 and $2.717 is

z(2.694) = (2.694-2.716)/0.0077

= -2.987
z(2.717) = (2.717-2.716)/0.0077

=0.13
Prob = normalcdf(-2.987,+0.13)

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