Advocate accuses one of the stations of current price

Assignment Help Basic Statistics
Reference no: EM132372793

During the pas year, the daily price of gasoline per gallon at four local gas stations has been approximately normally distributed. The four gas stations' yearly data and current selling prices are listed.

Station. Mean Price. Standard Deviation of price. Current Price

Elm St. 4.45. 0.08. 4.64

Third Am. 4.53. 0.11. 4.67

Devon Dr. 4.56. 0.12. 4.65

Morton LN. 4.49. 0.13. 4.62

A citizen's advocate accuses one of the stations of current price gouging (charging an unreasonably high price). Based on current selling prices, which station appears to be price gouging, relative to its annual mean price?

Reference no: EM132372793

Questions Cloud

Suppose the manager agrees to pay each employee : Suppose the manager agrees to pay each employee a? $50 bonus if they meet a certain goal. On a typical? Saturday, the? oil-change facility will perform
Compute the expected age of a british nurse : Compute the expected age µ of a British nurse contemporary to Florence Nightingale. (Round answer to two decimal places.)
Gpas and scores on standardized tests : Students' GPAs and scores on standardized tests (SATs and ACTs) are entered into a formula that calculates an "admissions index" score.
Which features of day links are most relevant to spdls : Assess competitors and customers. Hhow is SPDL positioned in the market? Which features of Day Links are most relevant to SPDLs main customers?
Advocate accuses one of the stations of current price : During the pas year, the daily price of gasoline per gallon at four local gas stations has been approximately normally distributed.
Should the product be marketed : 1. Should the product be marketed? Why or why not? 2. How large should the sample be if you want to maintain a 95% confidence
Awarded prizes for a writing contest : Three children in a class of 169 children are going to be awarded prizes for a writing contest.
Find the probability that the person is either a manager : If a person is selected at random, find the probability that the person is either a manager or a stock person?
Clients with a high school education : How many loans were made to clients with a High School education who also had 11 years of experience?

Reviews

Write a Review

Basic Statistics Questions & Answers

  The function fx0 for xlt0 14x6 for 0ltxlt2 1 for xgt2 is

the function fx0 for xlt0 14x6 for 0ltxlt2 1 for xgt2 is the distribution function of a mixed random variable x.

  Braking distances of cars a random sample of 13 four-cylindr

Braking distances of cars. A random sample of 13 four-cylinder cars is obtained and braking distances are measured and found to have a mean of 137.5 ft. and a standard deviation of 5.8 ft.

  How many students must be surveyed about alcohol abuse

Alcohol abuse. Growing concern about binge drinking among college students has prompted one large state university to conduct a survey to assess the size.

  Obtaining simple random sample from the entire production

A particular product is manufactured in two facilities, A and B. Facility B is more modern and accounts for 70% of the total production.

  Interpret the coefficients for MTenure and CTenure

Interpret the coefficients for MTenure and CTenure in model 1. Which of the two variables contributes more to profits (i.e. which one has a greater $ impact)

  Write the general form of a regression equation

Write the general form of a regression equation that has a single predictor variable. Identify the criterion variable, the predictor variable, the regression constant, and the regression coefficient.

  How given information interpreted as qualitative variable

The Acme School of Locksmithing has been accredited for the past 15 years. Discuss how this information might be interpreted as a qualitative variable.

  Odds ratio for logistic regression

A logistic regression model was used to assess the association between CVD and obesity. P is defined to be the probability that the people have CVD.

  Determine annual insurance premium

They calculated that would cost $120,000 to rebuild that home. Use expected values to determine annual insurance premium.

  Create frequency distribution for ages strokes due to stress

Medical research team studied the ages of patient who had strokes caused by stress. Ages of 34 patients who suffered stress strokes. Create frequency distribution for these ages.

  Interpret the value of the vertical intercept for this

in an emergency the typical driver requires about 0.75 seconds to get his or her foot onto the brake. the distance that

  Determining expected value and standard error of sum

Determine the expected value and standard error of the sum of 400 draws?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd