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 more than $3.70 per gallon?
A) 0.3000
B) 0.3333
C) 0.6667
D) 1.0000

Question

Quizplus · Accepted Answer

Since the average price of gasoline follows a continuous uniform distribution, the probability of a gas station charging more than $3.70 per gallon is equal to the proportion of the distribution to the right of $3.70. This proportion can be calculated as:

$$\frac{3.80-3.70}{3.80-3.50} = \frac{0.10}{0.30} = \frac{1}{3}$$

So the probability is 0.3333, which is closest to choice B.

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