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Angelina_Jolie [31]

3 years ago

5

An ethanol railroad tariff is a fee charge for shipments of ethanol on public railroads. The Agriculture Marketing Service publi

shes tariff rates for railroad-car shipments of ethanol in the Biofuel Transportation Database. Assuming that the standard deviation of such tariff rates is $1150, determine the probability that the mean tariff rate of 500 randomly selected railroad-car shipments of ethanol will be within $100 of the mean tariff rate of all railroad-car shipments of ethanol.

1 answer:

Stels [109]3 years ago

3 0

Answer:

The appropriate response is "0.9476".

Step-by-step explanation:

The given values are:

Standard deviation,

$\sigma=1150$

Randomly selected railroad-car shipments,

n = 500

As we know,

⇒ $\sigma \bar{x}=\frac{\sigma}{\sqrt{n} }$

On substituting the values, we get

⇒ $=\frac{1150}{\sqrt{500} }$

then,

⇒ $=P(-1.94$

⇒ $=P(Z$

On using the table of P, we get

⇒ $=0.9738 - 0.0262$

⇒ $=0.9476$

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