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April 18, 2014

Homework Help: Satistics

Posted by Shannon on Sunday, February 12, 2012 at 11:35pm.

**I don't want the answer, I want to know how to set the problem up and the formula that I need to use. I am online with a tutor right now, and they can't help me. :-(

The average price of a gallon of unleaded regular gasoline was reported to be $2.34 in northern Kentucky (The Cincinnati Enquirer, January 21, 2006). Use this price as the population mean, and assume the population standard deviation is $.20.

1. What is the probability that the mean price for a sample of 30 service stations is within $.03 of the population mean (to 4 decimals)?

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