Question

The mean price of a gallon of milk at various stores is $2.60 with a standard deviation of $0.15. If the cost of milk at Target is 3 standard

deviations above the mean, how much does it cost?

Answer 1

Answer: The cost of milk at Target is 3 standard deviations above the mean = $3.05.

Explanation:

Given: Mean price of a gallon of milk = $2.60

Standard deviation = $0.15

The cost of milk at Target is 3 standard deviations above the mean = Mean + Standard deviation

= $ (2.60+3(0.15))

=-$(2.60+0.45)

= $ 3.05

Hence, the cost of milk at Target is 3 standard deviations above the mean = $3.05.