(Solution) American consumers are becoming more and more aware of the costs of heating fuels.
American consumers are becoming more and more aware of the costs of heating fuels. As these costs rise, consumers consider alternative fuels, home insulation improvements, and new heating systems altogether. Suppose that the cost of natural gas per metric cubic foot (MCF) is normally distributed with a mean of $6.00 and a standard deviation of $1.20. What is the probability that the cost of’ natural gas per MCF for a particular consumer is between $7.60 and $8.00? Remember, do not round your calculations until you obtain your final answer and then round your answer to four significant figures.
This question was answered on: Sep 21, 2023
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