Answered: Determine if the finite correction…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Determine if the finite correction factor should be used. If so, use it in your calculations when you find the probability. In a sample of 900 gas stations, the mean price for regular gasoline at the pump was $2.838 per gallon and the standard deviation was $0.009 per gallon. A random sample of size 55 is drawn from this population. What is the probability that the mean price per gallon is less than $2.835?

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Step 1

$z = \frac{x - μ}{\sqrt{(N - n) / (N - 1)} σ / \sqrt{n}} = \frac{2.835 - 2.838}{\sqrt{(900 - 55) / (900 - 1)} 0.009 / \sqrt{55}} = \frac{- 0.003}{0.0323346 * 0.00121355} = - 2.50$

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