Question
In: Statistics and Probability
According to American Automobile Association, the average cost of a gallon of regular unleaded fuel at...
According to American Automobile Association, the average cost of a gallon of regular unleaded fuel at gas stations in May 2014 was $3.65. Assume that the standard deviation of such cost is $0.25. Suppose that a random sample of n=100 gas stations is selected from the population and the cost per gallon of regular unleaded fuel is determined for each. What is the approximate probability that the sample has a mean fuel cost between $3.60 and $3.70?
Group of answer choices
0.9772
0.9544
1
0.1586
Solutions
Expert Solution
Solution :
Given that ,
mean = 
= $3.65
standard deviation = 
=$0.25
n = 100
= 3.65
= /
P($3.60< <$3.70
) = P[(3.60-3.65) /0.025 < (
-
) / < (3.70-3.65) /0.025 )]
= P(-2 < Z <2 )
= P(Z <2 ) - P(Z <-2)
Using z table
=0.9772-0.0228
=0.9544
probability= 0.9544
orchestra answered 2 years agoRelated Solutions
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