document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1011937>Question 1011937</A>: <I><SPAN STYLE=\"word-break: break-all;\"> The average price of a gallon of regular unleaded gasoline in the U.S was reported to be $2.34. Use this price as population mean and assume that the population standard deviation is $0.20. For 100 service stations randomly selected in a sample:\r<BR>\n" );
document.write( "\n" );
document.write( "i) What is the probability that the mean price is above $2.40 of the population mean\r<BR>\n" );
document.write( "\n" );
document.write( "ii) What is the probability that the mean price is below $2.30 of the population mean\r<BR>\n" );
document.write( "\n" );
document.write( "iii) What is the probability that the mean price is within $0.03 of the population mean </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #627907 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=627907\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> z=(value-mean)/s/sqrt(n)<BR>\n" );
document.write( "=(2.40-2.34)/0.20)/10<BR>\n" );
document.write( "=0.06*10/0.2<BR>\n" );
document.write( "=>3<BR>\n" );
document.write( "The probability is 0.0013<BR>\n" );
document.write( "===========<BR>\n" );
document.write( "For ii<BR>\n" );
document.write( "-0.04*10/0.2=z < -2, or 0.0228<BR>\n" );
document.write( "==========<BR>\n" );
document.write( "For iii<BR>\n" );
document.write( "0.03*10/0.2<BR>\n" );
document.write( "|z|<1.5<BR>\n" );
document.write( "P=0.8664 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );