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  3. at one point the average price of regular unleaded

At one point the average price of regular unleaded gasoline was ​$3.543.54 per gallon. Assume that the standard...

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Verified Solution

Question

Basic Math

At one point the average price of regular unleaded gasolinewas

​$3.543.54

per gallon. Assume that the standard deviation price per gallonis

​$0.080.08

per gallon and use​ Chebyshev's inequality to answer thefollowing.

​(a) What percentage of gasoline stations had prices within

33

standard deviations of the​ mean?

​(b) What percentage of gasoline stations had prices within

2.52.5

standard deviations of the​ mean? What are the gasoline pricesthat are within

2.52.5

standard deviations of the​ mean?

​(c) What is the minimum percentage of gasoline stations thathad prices between

​$3.383.38

and

​$3.703.70​?

Answer & Explanation Solved by verified expert
3.7 Ratings (315 Votes)
Solution Given that mean xbar 354 standard deviation s 008 Use chebyshevs inequality 1 xbar ks values xbar ks 2    See Answer
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