Question

At one point the average price of regular unleaded gasoline was ?$3.57 per gallon. Assume that the standard deviation price per gallon is ?$0.07 per gallon and use? Chebyshev's inequality to answer the following.

?(a) What percentage of gasoline stations had prices within 4 standard deviations of the? mean? ?

(b) What 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 ?$3.43 and ?$3.71??

Answer #1

a) According to Chebyshev's inequality ,

K is the number of standard deviation away from the mean.

For, the percentage of gasoline stations had prices within 4 standard deviations of the? mean

is

K =4

Answer: The percentage of gasoline stations had prices within 4 standard deviations of the? mean is 93.75%

b) K = 2.5

Answer: The percentage of gasoline stations had prices within 2.5 standard deviations of the? mean is 84%

The gasoline prices that are within 2.5 standard deviations of the? mean is

to

= 3.57- 2.5*0.07 to 3.57+2.5*007

Answer: = $3.395 to $3.745

c) $3.43 and $3.71

Proportion is

Answer: Atleast 75%

At
one point the average price of regular unleaded gasoline was $3.47
per gallon. Assume that the standard deviation price per gallon is
$0.07 per gallon and use chebyshev's inequality to answer the
following.
(a) What percentage of gasoline stations had prices within 3
standard deviations of the mean?
(b)What percentage of gasoline stations had prices within 2.5
standard deviations of the mean?
(c) What is the minimum percentage of gasoline stations that
had prices between $3.33 and $3.61?

At one point the average price of regular unleaded gasoline was
$3.43 per gallon. Assume that the standard deviation price per
gallon is $0.09 per gallon and use Chebyshev's inequality to
answer the following.
along with these areas
(a) What percentage of gasoline stations had prices within
3 standard deviations of the mean?
(b) What 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...

At one point the average price of regular unleaded gasoline
was
$3.443.44
per gallon. Assume that the standard deviation price per gallon
is
$0.04
per gallon and use Chebyshev's inequality to answer the
following.
(a) What percentage of gasoline stations had prices within
4 standard deviations of the mean?
(b) What percentage of gasoline stations had prices within
2.5 What are the gasoline prices that are within
2.5 standard deviations of the mean?
(c) What is the minimum percentage of...

At one point the average price of regular unleaded gasoline was
$3.72 per gallon. Assume that the standard deviation price per
gallon is $0.06 per gallon and use Chebyshev's inequality to
answer the following.
(a) What percentage of gasoline stations had prices within 2
standard deviations of the mean?
(b) What 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...

At one point the average price of regular unleaded gasoline was
$3.42 per gallon. Assume that the standard deviation price per
gallon is $0.06 per gallon and use Chebyshev's inequality to
answer the following. (a) What percentage of gasoline stations had
prices within 33 standard deviations of the mean? (b) What
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...

At one point the average price of regular unleaded
gasoline was $3.58 per gallon. Assume that the standard deviation
price per gallon is $0.05 per gallon and useChebyshev's
inequality to answer the following.
(a) What percentage of gasoline stations had prices
within 33 standard deviations of the mean?
(b) What percentage of gasoline stations had prices
within 1.5 standard deviations of the mean? What are the
gasoline prices that are within 1.5 standard deviations of
the mean?
(c) What is the minimum percentage...

At one point the average price of regular unleaded gasoline
was
$3.593.59
per gallon. Assume that the standard deviation price per gallon
is
$0.080.08
per gallon and use Chebyshev's inequality to answer the
following.(a) What percentage of gasoline stations had prices
within
33
standard deviations of the mean?(b) What percentage of
gasoline stations had prices within
2.52.5
standard deviations of the mean? What are the gasoline prices
that are within
2.52.5
standard deviations of the mean?(c) What is the minimum...

3. A company that supplies gasoline nationwide reports that the
average price per gallon of regular gasoline is $ 8,150, with a
standard deviation of $ 428. There are 750 gasoline stations in the
country. Suppose a random sample from 40 gas stations is
selected.
b. What is the mean or expected value of the sample distribution
of the means?
c. What is the standard error of the sample distribution of the
means?
d. Write the syntax for the sample...

According to an automobile association, the average cost of a
gallon of regular unleaded fuel at gas stations in a certain month
was $2.834. Assume that the standard deviation of such costs is
$0.15. Suppose that a random sample of nequals100 gas stations is
selected from the population and the month's 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 $2.84 and $2.86? (four...

The Energy Information Administration reported that the mean
retail price per gallon of regular grade gasoline was $3.56.
Suppose that the standard deviation was $.10 and that the retail
price per gallon has a bell-shaped distribution.
NOTE: Please use empirical rule approximations for this
problem.
a. What percentage of regular grade gasoline
sold between $3.46 and $3.66 per gallon (to 1 decimal)?
b. What percentage of regular grade gasoline
sold between $3.46 and $3.76 per gallon (to 1 decimal)?...

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 2 minutes ago

asked 11 minutes ago

asked 17 minutes ago

asked 20 minutes ago

asked 23 minutes ago

asked 25 minutes ago

asked 28 minutes ago

asked 28 minutes ago

asked 36 minutes ago

asked 37 minutes ago

asked 58 minutes ago

asked 1 hour ago