Answered

IDNLearn.com: Your destination for reliable and timely answers to any question. Our experts provide accurate and detailed responses to help you navigate any topic or issue with confidence.

Suppose that prices of a gallon of milk at various stores in one town have a mean of $3.72 with a standard deviation of $0.10. Using Chebyshev's Theorem, what is theminimum percentage of stores that sell a gallon of milk for between $3.42 and $4.02? Round your answer to one decimal place.

Sagot :

Solution

We know that the mean= 3.72$ and the sd= 0.10$

and using the Chebysev theorem we want to know whick percentage of stores will be between 3.42$ and $4.02

We can calculate the distance between the limits and the mean:

3.72 - 3.42= 0.3

k=0.3/0.1= 3

4.02-3.72= 0.3

k= 0.3/0.1 = 3

Then we are between 3 deviations from the mean

So then we can calculate the percentage required with this formula:

[tex]1-\frac{1}{k^2}=1-\frac{1}{3^2}=1-\frac{1}{9}=\frac{8}{9}\cdot100=88.9[/tex]

So then we expect at least 88.9%

Thank you for participating in our discussion. We value every contribution. Keep sharing knowledge and helping others find the answers they need. Let's create a dynamic and informative learning environment together. IDNLearn.com is your go-to source for dependable answers. Thank you for visiting, and we hope to assist you again.