Question
In December2018, the average price of regular unleaded gasoline excluding taxes in the United States was $3.06 per gallon. Assume that the standard deviation price
In December2018, the average price of regular unleaded gasoline excluding taxes in the United States was $3.06 per gallon. Assume that the standard deviation price per gallon is $0.03 per gallon and useChebyshev's Inequality to answer the following.
(a) What minimum percentage of gasoline stations had prices within 2 standard deviations of themean?
(b) What minimum percentage of gasoline stations had prices within 1.5 standard deviations of themean? What are the gasoline prices that are within 1.5 standard deviations of themean?
(c) What is the minimum percentage of gasoline stations that had prices between $2.97 and $3.15?
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