In December 2018, the average price of regular unleaded gasoline excluding taxes in the United States was
Question:
In December 2018, the average price of regular unleaded gasoline excluding taxes in the United States was $3.06 per gallon, according to the Energy Information Administration. Assume that the standard deviation price per gallon is $0.06 per gallon to answer the following.
(a) What minimum percentage of gasoline stations had prices within 3 standard deviations of the mean?
(b) What minimum percentage of gasoline stations had prices within 2.5 standard deviations of the mean? What are the gasoline prices that are within 2.5 standard deviations of the mean?
(c) What is the minimum percentage of gasoline stations that had prices between $2.94 and $3.18?
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a By Chebyshevs inequality at least of gasoline prices have p...View the full answer
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