What would be the z-value for $3.85 a gallon of gasoline from a normally distributed population of gas prices? Assume μ = $3.78 and σ = $0.05.
A)1.4
B)1.018
C)0.0035
D)0.07

Question

Quizplus · Accepted Answer

The z-value is calculated using the formula $z = \frac{(X - \mu)}{\sigma}$, where $X$ is the value in question, $\mu$ is the mean, and $\sigma$ is the standard deviation. Plugging in the given values: $z = \frac{(3.85 - 3.78)}{0.05} = 1.4$.

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