regular gasoline averaged $2.75 per gallon in the United States in March 2010. Assume the standard...

regular gasoline averaged $2.75 per gallon in the United States in March 2010. Assume the standard deviation for gasoline prices is $0.08 per gallon. A random sample of 30 service stations was selected.

a) What is the probability that the sample mean will be less than $2.77?

b) What is the probability that the sample mean will be more than $2.76?

c) What is the probability that the sample mean will be between $2.72 and $2.78?

d) Suppose the sample mean is $2.79. Does this result support the findings of AAA? Explain your answer.

Expert Solution

Dear student if you are satisfied please Thumbs Up..... THANKS....

here , [ (Sample mean - Expected sample mean ) / Standard error of sample mean] follows Standard Normal distribution.

milcah answered 3 months ago

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