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October 24, 2014

October 24, 2014

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

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)?

- Satistics -
**PsyDAG**, Monday, February 13, 2012 at 1:43pmZ = (score-mean)/standard error of the mean (SEm)

Scores = (mean-.03) and (mean+.03)

SEm = SD/√n

Find table in the back of your statistics text labeled something like "areas under normal distribution" to find the proportion related to the Z scores.

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