The retail price of a medium-sized box of a well-known brand of cornflakes ranges from $2.12...

The retail price of a medium-sized box of a well-known brand of cornflakes ranges from $2.12 to $2.46. Assume these prices are uniformly distributed. **(Round your answer to 3 decimal places.) ***(Round your answer to 4 decimal places.) (a) What is the average price in this distribution? ** (b) What is the standard deviation of prices in this distribution? ** (c) If a price is randomly selected from this list, what is the probability that it will be between $2.26 and $2.32? ***

Expert Solution

orchestra answered 2 years ago

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