According to AAA, regular gasoline averaged $3.68 per gallon in the United States in March 2013. Assume

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According to AAA, regular gasoline averaged $3.68 per gallon in the United States in March 2013. Assume the standard deviation for gasoline prices is $0.12 per gallon. A random sample of 30 service stations was selected.

a. What is the probability that the sample mean will be less than $3.66?

b. What is the probability that the sample mean will be more than $3.63?

c. What is the probability that the sample mean will be between $3.62 and $3.72?

d. Suppose the sample mean is $3.75. Does this result support the findings of AAA? Explain your answer.

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Business Statistics

ISBN: 9780133852288

2nd Edition

Authors: Robert A Donnelly, Robert Donnelly Jr

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Question Posted: Jul 09, 2024 10:09 AM

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According to AAA, regular gasoline averaged $3.68 per gallon in the United States in March 2013. Assume

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