The volatility of world crude oil prices is important because of its impact on global economic stability.
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The volatility of world crude oil prices is important because of its impact on global economic stability. One measure of volatility is the standard deviation. The Excel file world_oil_price.xlsx lists the monthly price of crude oil from January 2016 to April 2018. Between 1986 and 2016 the standard deviation of crude oil prices was $30 a barrel. Please check if the standard deviation of crude oil prices has decreased since 2016.
a. Using ? = 0.05, determine if the standard deviation of the crude oil price has decreased below a standard deviation of 30.
b. Interpret the p-value.
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a H 0 2 900 H 1 2 900 b pvalue CHISQDIST2223 27 TRUE 0000 005 ...View the full answer
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