The following 6 questions are based on this information. According to a report i

Question

The following 6 questions are based on this information. According to a report in U.S. News from April 2013, the average price of gasoline at all U.S. gas stations was $3.00 (µ). The population standard deviation () of gas prices is $1.75. Let X be a random variable denoting gas price at gas stations. We plan to take a random sample of 36 gas stations.

1.

What is the probability that a random sample of 36 gas stations will provide an average gas price (X¯) that is more than $3.50?

Select one:

a. 9%

c. 45.5%

d. 31%

2. The probability in the PREVIOUS question would _________if we were to increase the sample size to 72.

Select one:

b. increase

c. stay the same

d. be zero

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Explanation / Answer

c. stay the same

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