We know by Chebyshev's inequality we know that at least of the distribution's values are within standard deviations of the mean
a) Here k=4, so
So 93.75%
b) Here k=2.5 , so
So 84.00 % prices within 2.5 standard deviation from the mean
As and
c) Since and
So 3.37 to 3.61 prices lies within 2 standard deviations from the mean
Hence the percentage of data is
So 75.00 % data lies within 3.37 to 3.61
Quiz: Chapter 3 Review Quiz 2 of 12 (1 At one (a) What (b) What th-the...
At one point the average price of regular unleaded gasoline was $3.45 per gallon. Assume that the standard deviation price per gallon is $0.06 per gallon and use Chebyshev's inequality to answer the following. (a) What percentage of gasoline stations had prices within 2 standard deviations of the mean? (b) What percentage of gasoline stations had prices within 2.5 standard deviations of the mean? What are the gasoline prices that are within 2.5 standard deviations of the mean? (c) What...
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235x Question Help * At one point the average price of regular unleaded gasoline was $3.47 per gallon. Assume that the standard deviation price per gallon is $0.07 per gallon and use Chebyshevs inequality to answer thefollowing. (a) What percentage of gasoline stations had prices within 3 standard deviations of the mean? (b) What percentage of gasoline stations had prices within 1.5 standard deviations of the mean? What are the gasoline prices that are within 1.5 standard deviations of the...
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At one point the average price of regular unleaded gasoline was $3.49 per gallon. Assume that the standard deviation price per gallon is $0.05 per gallon and use Chebyshev's inequality to answer the following. (a) What percentage of gasoline stations had prices within 4 standard deviations of the mean? (b) What percentage of gasoline stations had prices within 1.5 standard deviations of the mean? What are the gasoline prices that are within 1.5 standard deviations of the mean? (c) What...