Ethanol Railroad Tariffs. An ethanol railroad tariff is a fee charged for shipments of ethanol on public railroads. The Agricultural Marketing Service publishes tariff rates for railroad-car shipments of ethanol in the Biofuel Transportation Database. Assuming that the standard deviation of such tariff rates is $1150, determine the probability that the mean tariff rate of 500 randomly selected railroadcar shipments of ethanol will be within $100 of the mean tariff rate of all railroadcar shipments of ethanol. Interpret your answer in terms of sampling error.
Ethanol Railroad Tariffs. An ethanol railroad tariff is a fee charged for shipments of ethanol on public railroads. The Agricultural Marketing Service publishes tariff rates for railroad-car shipments of ethanol in the Biofuel Transportation Database. Assuming that the standard deviation of such tariff rates is $1150, determine the probability that the mean tariff rate of 500 randomly selected railroadcar shipments of ethanol will be within $100 of the mean tariff rate of all railroadcar shipments of ethanol. Interpret your answer in terms of sampling error.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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Ethanol Railroad Tariffs. An ethanol railroad tariff is a fee charged for shipments of ethanol on public railroads. The Agricultural Marketing Service publishes tariff rates for railroad-car shipments of ethanol in the Biofuel Transportation Database. Assuming that the standard deviation of such tariff rates is $1150, determine the probability that the
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