Suppose that prices of a gallon of milk at various stores in one town have a mean of $3.69 with a standard deviation of $0.11. Using Chebyshev's Theorem, what is the minimum percentage of stores that sell a gallon of milk for between $3.47 and $3.91

The minimum percentage of stores that sell a gallon of milk for between $3.47 and $3.91 is of 75%.

Step-by-step explanation:

Chebyshev Theorem

The Chebyshev Theorem can also be applied to non-normal distribution. It states that:

At least 75% of the measures are within 2 standard deviations of the mean.

At least 89% of the measures are within 3 standard deviations of the mean.

An in general terms, the percentage of measures within k standard deviations of the mean is given by .

In this question:

Mean of $3.69, standard deviation of $0.11.

What is the minimum percentage of stores that sell a gallon of milk for between $3.47 and $3.91?

3.47 = 3.69 - 2*0.11

3.91 = 3.69 + 2*0.11

So the minimum percentage within 2 standard deviations of the mean, which by Chebyshev's Theorem, is of 75%.

b

Explanation: