According to the U.S. Energy Information Administration, regular gasoline averaged $2.65 per gallon in the United States
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According to the U.S. Energy Information Administration, regular gasoline averaged $2.65 per gallon in the United States in April 2018. Assume the standard deviation for gasoline prices is $0.12 per gallon. A random sample of 30 service stations was selected.
a. What is the probability that the sample mean will be less than $2.66?
b. What is the probability that the sample mean will be more than $2.63?
c. What is the probability that the sample mean will be between $2.62 and $2.72?
d. Suppose the sample mean is $2.71. Does this result support the findings of the U.S. Energy Information Administration? Explain your answer.
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a b c d Thus theres a 007 chance of observing a sample mean as hig...View the full answer
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