A website claims to offer up to date information on the distribution of the price of petrol per litre offered by service stations in Ireland. On one particular day the website claims that the average price of petrol per litre offered is µ = 1.31 euro and that prices vary between petrol stations by a standard deviation of σ = 0.06 euro. Suppose a consumer group decides to check the website's claim by sampling n = 34 petrol stations in Ireland and recording the price per litre that day for these petrol stations. Answer the following questions : Question 1 : Assuming the claim is true, the sampling distribution of the mean is : a: Normal( 34 , 0.01 2) b: Normal( 1.31 , 0.01 2) c: Normal( 1.31 , 0.06 2) d: Normal( 34 , 0.06 2) Insert your choice ( a /b /c /d ) : Question 2: The mean price of petrol from the sample was recorded to be 1.303. Assuming the website's claim is true calculate how likely it was that the sample gave a mean price of 1.303 or less : . (4 decimal places)
A website claims to offer up to date information on the distribution of the price of petrol per litre offered by service stations in Ireland. On one particular day the website claims that the average price of petrol per litre offered is µ = 1.31 euro and that prices vary between petrol stations by a standard deviation of σ = 0.06 euro. Suppose a consumer group decides to check the website's claim by sampling n = 34 petrol stations in Ireland and recording the price per litre that day for these petrol stations. Answer the following questions : Question 1 : Assuming the claim is true, the sampling distribution of the mean is : a: Normal( 34 , 0.01 2) b: Normal( 1.31 , 0.01 2) c: Normal( 1.31 , 0.06 2) d: Normal( 34 , 0.06 2) Insert your choice ( a /b /c /d ) : Question 2: The mean price of petrol from the sample was recorded to be 1.303. Assuming the website's claim is true calculate how likely it was that the sample gave a mean price of 1.303 or less : . (4 decimal places)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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A website claims to offer up to date information on the distribution of the price of petrol per litre offered by service stations in Ireland.
On one particular day the website claims that the average price of petrol per litre offered is µ = 1.31 euro and that prices vary between petrol stations by a standard deviation of σ = 0.06 euro.
Suppose a consumer group decides to check the website's claim by sampling n = 34 petrol stations in Ireland and recording the price per litre that day for these petrol stations.
Answer the following questions :
Question 1 : Assuming the claim is true, the sampling distribution of the mean is :
a: Normal( 34 , 0.01 2)
b: Normal( 1.31 , 0.01 2)
c: Normal( 1.31 , 0.06 2)
d: Normal( 34 , 0.06 2)
Insert your choice ( a /b /c /d ) :
Question 2: The mean price of petrol from the sample was recorded to be 1.303. Assuming the website's claim is true calculate how likely it was that the sample gave a mean price of 1.303 or less : . (4 decimal places)
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