Question
The retail price of a medium-sized box of a well-known brand of cornflakes ranges from $2.24to $2.66. Assume these prices are uniformly distributed. *Round your
The retail price of a medium-sized box of a well-known brand of cornflakes ranges from $2.24to $2.66. Assume these prices are uniformly distributed. *Round your answer to 2 decimal places, the tolerance is +/-0.01. **Round your answer to 3 decimal places, the tolerance is +/-0.001. ***Round your answer to 4 decimal places, the tolerance is +/-0.0001. (a)What is the average price in this distribution?
*
(b)What is the standard deviation of prices in this distribution?
**
(c)If a price is randomly selected from this list, what is the probability that it will be between $2.39and $2.49?
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