A gas station sells gasoline at the following prices (in cents per gallon, depending on the type
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A gas station sells gasoline at the following prices (in cents per gallon, depending on the type of gas and service): 315.9, 318.9, 329.9, 339.9, 344.9, and 359.7. Let y denote the price per gallon paid by a randomly selected customer.
a. Is y a discrete random variable? Explain.
b. Suppose that the probability distribution of y is as follows:
What is the probability that a randomly selected customer has paid more than $3.20 per gallon? Less than $3.40 per gallon?
c. Refer to Part (b), and calculate the mean value and standard deviation of y. Interpret these values.
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a No y is not a discrete random variable A discrete random variable is one that can only take on specific distinct values with gaps in between In this ...View the full answer
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Related Book For 
Introduction To Statistics And Data Analysis
ISBN: 9780495118732
3rd Edition
Authors: Roxy Peck, Chris Olsen, Jay L. Devore
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