Question

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)?

**c.** What percentage of regular grade gasoline
sold for more than $3.76 per gallon (to 1 decimal)?

Answer #1

Empirical rule states that for a normal distribution:

68% of the data will fall within one standard deviation of the mean.

95% of the data will fall within two standard deviations of the mean.

Almost all (99.7%) of the data will fall within three standard deviations of the mean.

( 3.46 , 3.66 )

= ( 3.36 , 3.76 )

=( 3.26 , 3.86 )

a)

The score 3.46 and 3.66 are within one standard deviation of the mean.

Percentage of regular grade gasoline sold between 3.46 and 3.66
= **68%**

b)

The score 3.76 is 2 standard deviation above the mean and the score 3.46 is one standard deviation below the mean.

Percentage of regular grade gasoline sold between 3.46 and 3.76
= 95/2 + 68/2 = **81.5%**

c)

The score 3.76 is two standard deviation above the mean.

Percentage of regular grade gasoline sold for more than 3.76 =
(100 - 95)/2 = **2.5%**

The Energy Information Administration reported that the mean
retail price per gallon of regular grade gasoline was
$3.49 . Suppose that the standard deviation was
$0.10 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 $3.29 and $3.59 per
gallon (to 1 decimal)?
95.0 %
b. What percentage of regular grade gasoline
sold between $3.29 and $3.59 per
gallon (to...

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
$3.42 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 $3.47
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
$3.593.59
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...

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
?$3.57 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? ?...

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
$3.43 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...

Suppose that you are interested in estimating the average number
of miles per gallon of gasoline your car can get. You calculate the
miles per gallon for each of the next ten times you fill the tank.
Suppose that in truth, the values for your car are bell-shaped,
with a mean of 25 miles per gallon and a standard deviation of 1.
Find the possible sample means you are likely to get based on your
sample of ten observations. Consider...

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 3 minutes ago

asked 7 minutes ago

asked 13 minutes ago

asked 14 minutes ago

asked 16 minutes ago

asked 41 minutes ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago