SOLUTION: The average retail price of gasoline(all types) for the first half of 2009 was 236.5 cents. What would the standard deviation have to be in order for a 15 % probability that a gall
Algebra.Com
Question 1193876: The average retail price of gasoline(all types) for the first half of 2009 was 236.5 cents. What would the standard deviation have to be in order for a 15 % probability that a gallon of gas costs less than 2 dollars.
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
z=-1.036
z=(x-mean)/sd
-1.036<(200-236.5)/sd
-1.036sd <-36.5
sd=35.2 cents
RELATED QUESTIONS
The average retail price of gasoline (all types) for the first half of 2005 was 212.2... (answered by Boreal)
the average retail price of gasoline (all types) for 2014 was $3.42 cents. what would the (answered by Boreal)
On her way to NY, Jenny spent the same amount for gasoline each time she stopped for... (answered by ankor@dixie-net.com)
The data shows price of gasoline at different gas station in a small city. Test the null... (answered by richwmiller)
Suppose that the mean retail price per gallon of regular grade gasoline in the United... (answered by Theo)
In 1960, the average price per gallon of gasoline was 31 cents per gallon. From 1960 to... (answered by josgarithmetic)
In 1960, the average price per gallon of gasoline was 31 cents per gallon. From 1960 to... (answered by josgarithmetic)
A recent gasoline survey said that the national average price of gasoline was $1.498 a... (answered by CPhill)
In 1944 a stamp for first-class postage cost 3 cents. By the end of 2001, the cost of... (answered by stanbon)