Question
Let us assume that the prices of regular unleaded gasoline across the nation are normally distributed with a mean of $2.29 and a standard deviation
Let us assume that the prices of regular unleaded gasoline across the nation are normally distributed with a mean of $2.29 and a standard deviation of $0.15.
Describe the shape and horizontal scaling on the graph of the distribution for the population of all regular unleaded gasoline prices (hereafter referred to simply as gas prices).?
If all possible samples of size 30 from the population of these gas prices are drawn and the mean is found for each sample, describe the shape and horizontal scaling on the graph of the sampling distribution for these sample mean values as theorized by the Central Limit Theorem.?
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