What Is the Likelihood of Finding a Price of $3

question 43

Multiple Choice

What is the likelihood of finding a price of $3.85 or more for a gallon of gasoline from a normally distributed population of gas prices? Assume μ = $3.78 and σ = $0.05.

• A)0.0808
• B)0.4192
• C)0.3508
• D)0.1492

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Definitions:

Lifespan

The maximum length of time that a living being, especially a human, can expect to live; it's often considered in terms of quality of life and extension through healthcare advancements.

Flynn Effect

The observed substantial and long-term increase in intelligence test scores measured over time in many parts of the world.

Working Memory

A component of short-term memory that involves the temporary storage and manipulation of information.

Fluid Intelligence

The capability to reason and think flexibly, solving new problems without relying on acquired knowledge.