An economist uses the price of a gallon of milk as a measure of inflation (a general rise in the price level of an economy over a period of time). She finds that the average price is $3.27 per gallon and the population standard deviation is $0.66. You decide to sample 40 convenience stores, collect their prices for a gallon of milk and compute the mean price for the sample. What is the likelihood the sample mean is greater than $3.50? Based on this probability, what can you say about inflation? Show mathematically how you can make this claim.

Ari economist uses the price of a gallon of milk as a measure of inao'on (a general rise in the price level of an economy over a period of time). She nds that the average price is $3.27 per gallon and the population standard deviao'on is $0.06. You decide to sample 40 coovenience stores. collect their prices fora gallon of milk and compute the mean price forthe sample. What is the likelihood the sample mean is greaterthan $3.50? Based on this probability. what can you say about ination. Show mathematically howyou can make this claim