The Oil Price Information Center reports the mean price per gallon of regular gasoline is $3.26 with a population standard deviation of $.18. Assume a random sample of 40 gasoline stations is selected and their mean cost for regular gasoline is computed.
a. What is the standard error of the mean in this experiment?
b. What is the probability that the sample mean is between $3.24 and $3.28?
c. What is the probability that the sample mean is greater than $3.34?
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