During a certain week the mean price of gas was 2.715 per gallon. A random sampl

Question

During a certain week the mean price of gas was 2.715 per gallon. A random sample of 32 gas stations is drawn from population. What is the probability that the mean price for the sampke was between 2.697 and 2.716 that week? Assume standard deviation is 0.042. During a certain week the mean price of gas was 2.715 per gallon. A random sample of 32 gas stations is drawn from population. What is the probability that the mean price for the sampke was between 2.697 and 2.716 that week? Assume standard deviation is 0.042. During a certain week the mean price of gas was 2.715 per gallon. A random sample of 32 gas stations is drawn from population. What is the probability that the mean price for the sampke was between 2.697 and 2.716 that week? Assume standard deviation is 0.042.

Explanation / Answer

Solution:- given that = 2.715 , sd = 0.042 , n = 32

P( 2.697 < x < 2.716) = P((2.697-2.715)/(0.042/sqrt(32)) < Z <  (2.716-2.715)/(0.042/sqrt(32))

= P(-2.4244 < Z < 0.1347)

=  0.5439

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