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Business Influential Statistics Questions

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1. The American Auto Association reports that the mean price per gallon of regular gasoline is
$3.10, with a population standard deviation of $0.20. Assume a random sample of 16 gasoline
stations is selected and their mean cost for regular gasoline is computed. What is the
probability that the sample mean is between $2.98 and $3.12?

2. The American Auto Association reports that the mean price per gallon of regular gasoline is
$3.10, with a population standard deviation of $0.20. Assume a random sample of 16 gasoline
stations is selected and their mean cost for regular gasoline is computed. What is the
probability that the difference between the sample mean and the population mean is less than
0.01?

3.. The American Auto Association reports that the mean price per gallon of regular gasoline is
$3.10, with a population standard deviation of $0.20. Assume a random sample of 16 gasoline
stations is selected and their mean cost for regular gasoline is computed. What is the
likelihood the sample mean is greater than $3.08?

4. LongLast Inc. produces car batteries. The mean life of these batteries is 60 months. The
distribution of the battery life closely follows the normal probability distribution with a
standard deviation of eight months. As part of its testing program, LongLast tests a sample of
25 batteries. What is the standard error of the mean?


5.. LongLast Inc. produces car batteries. The mean life of these batteries is 60 months. The
distribution of the battery life closely follows the normal probability distribution with a
standard deviation of eight months. As a part of its testing program, LongLast tests a sample
of 25 batteries. What proportion of the samples will have a mean useful life of more than 56
months?

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