Find two dollar values of all gas stations charge

Assignment Help Mathematics
Reference no: EM131641208

Question: You have been told that the distribution of regular unleaded gasoline prices over all gas stations in Indiana is normally distributed with mean $2.95 and standard deviation $0.075, and you have been asked to find two dollar values such that 95% of all gas stations charge somewhere between these two values. Why is each of the following an acceptable answer: between $2.776 and $3.081, or between $2.803 and $3.097? Can you find any other acceptable answers? Which of the many possible answers would you give if you are asked to obtain the shortest interval?

Reference no: EM131641208

Questions Cloud

Record the journal entry : Assuming that the market price as of December 31, 2017, is $3.62, record the journal entry.
Why is the independence assumption probably not realistic : Why is the independence assumption in part c probably not realistic? Using a more realistic assumption, do you think the probability requested in part c.
Three traits-behaviors or characteristics that demonstrate : Differentiate between joint ventures and acquisitions as methods to enter new industries. What does a Clarifier, Ideator, Developer, and Implementer?
What is probability thatthere will be more than three trucks : What is the probability thatthere will be more than three trucks either being loaded or waiting? Discuss the results of your queuing model computation.
Find two dollar values of all gas stations charge : You have been told that the distribution of regular unleaded gasoline prices over all gas stations in Indiana is normally distributed with mean $2.95.
Walmart or target practices : If you were a product manager for one of the products listed in the article "Gray Market Perfume", would you take any actions to change Walmart or Target's.
What role has open source intelligence played : What role has open source intelligence (OSINT) played as an instrument to both protect U.S. activities and determine enemy strategies, culture.
The leader of the conservative party : In what year became John Major the leader of the Conservative Party?
Make a work breakdown structure : Create the WBS for an APPLE product produced in the past 5 years. For the assignment please describe the product in a few paragraphs, then provide the WBS.

Reviews

Write a Review

Mathematics Questions & Answers

  Hayes electronics assumed with certainty

Hayes electronics assumed with certainty that the ordering cost is $450 per order and the inventory carrying cost is $170 per unit per year. However, the inventory model parameters are frequently only estimates that are subject to some degree of unce..

  Find the ler in terms of d and the parameters

E(Xd)/E(X) is known as the loss elimination ratio (LER), since it gives the proportion of the risk. Find the LER in terms of d and the parameters.

  Define a cut vertex can be hamiltonian

A cut-vertex of a graph is a vertex whose removal (along with all edges incident with it) increases the number of connected components of the graph.

  What was a customer expected value of the cell phone

Out of 5000 policies for cell phones, a company received 585 claims. The average amount paid on the claims was $80. If the annual cost of the policy was $48, what was a customer's expected value of the cell phone insurance policy?

  Polyhedron with at least one extreme point

Let P be a polyhedron with at least one extreme point. Is it possible to express an arbitrary element of P as a convex combination  of its extreme points plus a nonnegative multiple of a single extreme ray?

  Write maple code to automatically generate the pictures

Write MAPLE code to automatically generate the pictures above from any given polynomial. Use colors to make the picture clear. You will have to hand in the MAPLE code that automatically generated your pictures AND to write a conjecture based on yo..

  What percentage of numbers from

A batsman scored 110 runs which included 3 boundaries and 8 sixes. What percentage of his total score did he make by running between the wickets?A fruit seller had some apples. He sells 40% apples and still has 420 apples. Originally, he had how many..

  State the bearing the pilot should take in order to fly

the bearing the pilot should take in order to fly directly to the airport. Round your answer to the nearest hundredth of a degree.

  What is the trend you observe in the gas prices

When graphing, assume x = 0 represents the year 2006. What is the trend you observe in the gas prices from 2006 to 2009?

  What is the difference between domain and range

What is the difference between domain and range? Provide an example and identify the domain and range.

  Find the equation of the line for the demand equation

Find the equation of the line for the demand equation. Write your answer in the form p = mx + b. (Hint: Write an equation using two points in the form (x,p)).

  Comprehension of financial management

Please reflect on your comprehension of financial management and knowledge gained from financial real world activities and events occurring in the US.

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