Question

According to an automobile​ association, the average cost of a gallon of regular unleaded fuel at...

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 decimal places as needed.)

Homework Answers

Answer #1

Refer Standard normal table/Z-table to find the probability or use excel formula "=NORM.S.DIST(1.73, TRUE)" & "=NORM.S.DIST(0.40, TRUE)" to find the probability.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
According to an automobile​ association, the average cost of a gallon of regular unleaded fuel at...
According to an automobile​ association, the average cost of a gallon of regular unleaded fuel at gas stations in a certain month was ​$2.8282.828. Assume that the standard deviation of such costs is ​$0.150.15. Suppose that a random sample of nequals=100 gas stations is selected from the population and the​ month's cost per gallon of regular unleaded fuel is determined for each. Consider x overbarx​, the sample mean cost per gallon. Complete part a through d. LOADING... Click the icon...
3. A company that supplies gasoline nationwide reports that the average price per gallon of regular...
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...
You want to estimate the average gas price in your city for a gallon of regular...
You want to estimate the average gas price in your city for a gallon of regular gas. You take a random sample of prices from 15 gas stations​ , recording an average cost of ​$2.53 and a standard deviation of ​$0.12. Create a 99​% confidence interval for the mean price per gallon of gas. 
The average price of regular unleaded gasoline was reported to be $2.34 in 2006. Use the...
The average price of regular unleaded gasoline was reported to be $2.34 in 2006. Use the price as the population mean and assume the population standard deviation is $0.20. What sample size would be needed to ensure a probability of 0.95 that the sample mean is within $0.03 of the population mean? Please specify your answer to the nearest whole number. If you answer is 120.73, please input 121 for your answer. _____________ The Grocery Manufacturers of America reported that...
A certain model of automobile has its gas mileage (in miles per gallon, or mpg) normally...
A certain model of automobile has its gas mileage (in miles per gallon, or mpg) normally distributed, with a mean of 32 mpg and a standard deviation of 4 mpg. Find the probability that a car selected at random has the following gas mileages. (Round your answers to four decimal places.) (a) less than 26 mpg (b) greater than 34 mpg (c) between 30 and 34 mpg
Determine if the finite correction factor should be used. If​ so, use it in your calculations...
Determine if the finite correction factor should be used. If​ so, use it in your calculations when you find the probability. In a sample of 800 gas​ stations, the mean price for regular gasoline at the pump was $ 2.876 per gallon and the standard deviation was ​$0.008 per gallon. A random sample of size 45 is drawn from this population. What is the probability that the mean price per gallon is less than ​$2.872​? The probability that the mean...
The average gasoline price of one of the major oil companies has been $2.20 per gallon....
The average gasoline price of one of the major oil companies has been $2.20 per gallon. Because of cost reduction measures, it is believed that there has been a significant reduction in the average price. In order to test this belief, we randomly selected a sample of 36 of the company's gas stations and determined that the average price for the stations in the sample was $2.14. Assume that the standard deviation of the population is $0.12. a. Conduct a...
According to a research​ institution, the average hotel price in a certain year was ​$97.39. Assume...
According to a research​ institution, the average hotel price in a certain year was ​$97.39. Assume the population standard deviation is ​$18.00 and that a random sample of 34 hotels was selected. Complete parts a through d below. a. Calculate the standard error of the mean. ​(Round to two decimal places as​ needed.) b. What is the probability that the sample mean will be less than ​$98​? ​(Round to four decimal places as​ needed.) c. What is the probability that...
According to a research​ institution, the average hotel price in a certain year was ​$99.07. Assume...
According to a research​ institution, the average hotel price in a certain year was ​$99.07. Assume the population standard deviation is ​$20.00 and that a random sample of 31 hotels was selected. Complete parts part b below. a. Calculate the standard error of the mean.=​$3.59 ​(Round to two decimal places as​ needed.) b. What is the probability that the sample mean will be less than ​$101​?_______​(Round to four decimal places as​ needed.)
According to a research​ institution, the average hotel price in a certain year was ​$98.23. Assume...
According to a research​ institution, the average hotel price in a certain year was ​$98.23. Assume the population standard deviation is ​$24.00 and that a random sample of 30 hotels was selected. Complete parts a through d below. a. Calculate the standard error of the mean. sσx equals =​ ​(Round to two decimal places as​ needed.) b. What is the probability that the sample mean will be less than ​$101​? P(x with - on top<$101) = ​(Round to four decimal...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT