Find the specified probability and interpret the results. Use technology to determine the likelihood of a challenge. For a particular week, the averag

Ava-May Nelson

Ava-May Nelson

Answered question

2020-10-25

Find the specified probability and interpret the results. Use technology to determine the likelihood of a challenge. For a particular week, the average gasoline price in California was $ 4.117 per gallon. A random sample of 38 filling stations is selected from this population. What is the likelihood that the average sample price this week was between $ 4.128 and $ 4.143?
Assume σ=$0.049

Answer & Explanation

Neelam Wainwright

Neelam Wainwright

Skilled2020-10-26Added 102 answers

The sample mean is normally distibuted with mean mu and standard deviation σ/n. the z-score is the value decreased by the mean, divided by the standard deviation: z=xμσ/n=4.1284.1170.049/38=1.38
z=xμσ/n=4.1434.1170.049/38=3.27 Determine the corresponding probability using table 4: P($4.128<X<$84.143)=P(Z<3.27)P(Z<1.38)=0.99950.9162=0.0833=8.33%

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