The retail price of a medium-sized box of a well-known brand of cornflakes ranges from $2.80 to… 1 answer below »

The retail price of a medium-sized box of a well-known brand of cornflakes ranges from $2.80 to… 1 answer below »

The retail price of a medium-sized box of a well-known brand of cornflakes ranges from $2.80 to $3.14. Assume these prices are uniformly distributed. What are the average price and standard deviation of prices in this distribution? If a price is randomly selected from this list, what is the probability that it will be between $3.00 and $3.10.

 

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