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The following data apply to a few questions below. Assume that the average price for a...

The following data apply to a few questions below. Assume that the average price for a gallon of gas in the US is $3.73 and the equivalent of $3.40 in Russia. (It was in March 2012.) Assume these figures are the population means (not a sample) and that the distributions can be described as a normal distribution. The σ = $0.25 in the US and σ = $0.20 in Russia.

  1. What is the probability that a randomly selected gas station in the US charges less than $3.50?
  2. What percentage of gas stations in Russia charge less than $3.50?
  3. What is the probability that a randomly selected gas station in Russia charged more than the mean price in the US?
Math   Statistics-And-Probability   
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