Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

statistics and probability 3. A large gas station chain reports that the amount of gasoline purchased per visit, r. is normally distributed with standard deviation

statistics and probability

image text in transcribed
3. A large gas station chain reports that the amount of gasoline purchased per visit, r. is normally distributed with standard deviation o = 2 gallons. Suppose that a random sample of 25 purchases at this station is selected. The sample average is 12.4 gallons. (a) Explain why we can assume that the distribution of I is approximately normal. (b) Compute a 95% confidence interval for . Round to three places. (c) What is the margin of error for the interval estimate? Round to three places. (d) An executive from this gas station chain claims that, on average, customers purchase 15 gallons of gas per visit. Is this claim supported by the data? In a sentence, explain why or why not

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Dynamic Business Law

Authors: Nancy Kubasek

1st Edition

0073524913, 9780073524917

Students also viewed these Mathematics questions