Assume a random sample of 40 gasoline stations is selected


1. The Oil Price Information Center of greater Houston reports the mean price per gallon of gas is $3 with a population standard deviation of .18. Assume a random sample of 40 gasoline stations is selected and their mean cost for regular gasoline is computed. What is the likelihood the sample mean is greater than $3.08?  

Solution Preview :

Prepared by a verified Expert
Managerial Economics: Assume a random sample of 40 gasoline stations is selected
Reference No:- TGS01294498

Now Priced at $12 (50% Discount)

Recommended (96%)

Rated (4.8/5)