You have been told that the distribution of regular unleaded gasoline prices over all gas stations in
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You have been told that the distribution of regular unleaded gasoline prices over all gas stations in Indiana is normally distributed with mean $3.25 and standard deviation $0.075, and you have been asked to find two dollar values such that 95% of all gas stations charge somewhere between these two values. Why is each of the following an acceptable answer: between $3.076 and $3.381, or between $3.103 and $3.397? Can you find any other acceptable answers? Which of the many possible answers would you give if you are asked to obtain the shortest interval?
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Related Book For
Business Analytics Data Analysis and Decision Making
ISBN: 978-1133629603
5th edition
Authors: S. Christian Albright, Wayne L. Winston
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