Mathematics, 10.02.2021 16:10 landon5718
The amount of heating oil required to fill a customer’s tank is a random variable with a mean of 309 gallons and a standard deviation of 44 gallons. A customer is considering two independent pricing plans for purchasing heating oil. The first plan (A) would charge $4.2 per gallon. The second plan (B) would charge a flat rate of $100 plus $3.69 per gallon. Calculate the mean and standard deviation of the distributions of money charged under each plan. Assuming the distributions are normal, calculate the probability that Plan B would charge more than Plan A. Round final answer to the nearest TWO decimal places.
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The amount of heating oil required to fill a customer’s tank is a random variable with a mean of 309...
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