Suppose the Average Price of Gasoline for a City in the United

question 111

Multiple Choice

Suppose the average price of gasoline for a city in the United States follows a continuous uniform distribution with a lower bound of $3.50 per gallon and an upper bound of $3.80 per gallon. What is the probability a randomly chosen gas station charges between $3.70 and $3.90 per gallon?

• A) 0.3000
• B) 0.3333
• C) 0.6667
• D) 1.0000

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Definitions:

Duty of Diligence

The obligation to perform work with careful attention, effort, and thoroughness, particularly in a professional or legal context.

Profit of Shareholders

The portion of a company's profits that is allocated to stockholders, often seen as a primary goal of businesses to maximize shareholder value.

Shareholder Orientation

A business approach that prioritizes the interests and value maximization for shareholders, often guiding strategic and operational decisions.