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R.R. Jha, Bachelor's Degree
Category: Calculus and Above
Satisfied Customers: 5471
Experience:  Math Expert
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# Let us assume that the prices of regular unleaded gasoline

### Resolved Question:

Let us assume that the prices of regular unleaded gasoline across the nation are normally distributed with a mean of \$3.60
and a standard deviation of \$0.32.

Describe the shape and horizontal scaling on the graph of the distribution for the population of all regular unleaded gasoline prices
(hereafter referred to simply as gas prices).

If all possible samples of size 16 from the population of these gas prices are drawn and the mean is found for each sample, describe
the shape and horizontal scaling on the graph of the sampling distribution for these sample mean values as theorized by the Central Limit Theorem.

Find the probability that the price from a single randomly selected gas station will be more than \$4.00. Based upon your results, would it be unusual
to find an individual gas station where the price is more than \$4.00?

Find the probability that the mean from 16 randomly selected gas stations will be more than \$4.00. Based upon your results, would it be unusual to
find a sample of 16 randomly selected gas stations where the average price is more than \$4.00?
Submitted: 2 years ago.
Category: Calculus and Above
Expert:  R.R. Jha replied 2 years ago.
Hi,
Welcome to our forum!

I'm RRJha and I'd be glad to help with your question. I'm working on it, would send the answer shortly.

Thanks
Customer: replied 2 years ago.

for a bonus, here are these...

A survey of 210 registered voters revealed that 107 of them plan on voting for the incumbent. Find a 95% confidence interval for the proportion of all registered voters who plan on voting for the incumbent. Does it appear statistically valid to conclude that more than 50% of all registered voters plan on voting for the incumbent? Why or why not?

Suppose you want to estimate the percentage of registered voters who plan to vote for the incumbent and you want your estimate to be within 2 percentage points of the correct population measure, based upon a 95% confidence level. What minimum size sample is required? Assume that no estimate of "p-hat" is known.

Expert:  R.R. Jha replied 2 years ago.
Ok, let me handle these one by one
Customer: replied 2 years ago.

This assignment is due by midnight. How long will it take you?>

Expert:  R.R. Jha replied 2 years ago.

https://app.box.com/s/zzl329vfh4d51l6xvmet

I'm now working on your bonus question. Meanwhile, please review it and leave a rating.

Thanks
R.R. Jha, Bachelor's Degree
Satisfied Customers: 5471
Experience: Math Expert
Customer: replied 2 years ago.

P(x-bar > 4) = P(z > 5) ≈ 0

Since probability is almost 0, it would be unusual to find a sample of 16 stations with average price more than \$4.00.

For this answer can you calculate out the 0

Expert:  R.R. Jha replied 2 years ago.
This probability is found by looking up the normal probability table or by using statistical calculator. I used Microsoft Excel to find this, exact probability was something like 2.87 x 10^-7.

Thanks
Expert:  R.R. Jha replied 2 years ago.
Thanks for the rating.

Let me know if you need help with any other questions. You can ask me by adding 'For RRJha' at the start of question.

Thanks

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