SOLUTION: The local grocery store sells a gallon of milk for $3.04. If the average price for a gallon of milk is $2.94 with a standard deviation of $0.19, find the z-score for the price of t

Algebra ->  Probability-and-statistics -> SOLUTION: The local grocery store sells a gallon of milk for $3.04. If the average price for a gallon of milk is $2.94 with a standard deviation of $0.19, find the z-score for the price of t      Log On


   

Question 865385: The local grocery store sells a gallon of milk for $3.04. If the average price for a gallon of milk is $2.94 with a standard deviation of $0.19, find the z-score for the price of the gallon of milk.
How would I find the z score?
Answer by jim_thompson5910(35256) About Me  (Show Source):
You can put this solution on YOUR website!
mean: mu = 2.94 (the symbol commonly used is mu = mu)
standard deviation: sigma = 0.19 (the symbol commonly used is sigma = sigma)

Raw Score: x = 3.04

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Z-score

z+=+%28x-mu%29%2Fsigma


z+=+%283.04-2.94%29%2F0.19


z+=+0.10%2F0.19


z+=+0.52631578947369


So the z-score is approximately z = 0.52631578947369


Round that accordingly if you need to (ex: if they want 2 decimal places, then don't forget to round to z = 0.53)