The average price of gas in the Allentown-Bethlehem-Easton area is $3.45 with a standard deviation of $.08. Assume the variable is normally distributed.
a. If a single gas station is selected, find the probability that the gas price is less than $3.42.
b. If a sample of 10 gas stations is selected, find the probability that the mean gas prices is less than $3.42. (Look at the wording of part a compared to b. What’s different?)
c. If a sample of 25 gas stations is selected, find the probability that the mean gas prices is less than $3.42. (After performing the calculation, look at the differences between part b and
d. Did the probability increase? decrease? remain the same?) d. If a sample of 20 gas stations is selected, find the probability that the mean gas price will be greater than $3.42.