5. Per gallon gasoline prices charged by two rental companies are given in the table Rental...
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5. Per gallon gasoline prices charged by two rental companies are given in the table Rental company A 4.33 4.72 4.11 4.65 4.23 4.21 4.49 Location Airport 1 Airport 2 Airport 3 Airport 4 Airport 5 Airport 6 Airport 7 Rental company B 4.25 4.93 4.07 4.58 4.08 4.11 4.81 A. Estimate the confidence interval for prices of gasoline for each rental company with 95 percent confidence level. B. Are the gasoline prices of the companies significantly different with significance level of 0.05? C. Estimate the confidence level of the variance in the process for each company with a 95 percent confidence. D. Are the variance of the gasoline prices of the two rental companies significantly different? 5. Per gallon gasoline prices charged by two rental companies are given in the table Rental company A 4.33 4.72 4.11 4.65 4.23 4.21 4.49 Location Airport 1 Airport 2 Airport 3 Airport 4 Airport 5 Airport 6 Airport 7 Rental company B 4.25 4.93 4.07 4.58 4.08 4.11 4.81 A. Estimate the confidence interval for prices of gasoline for each rental company with 95 percent confidence level. B. Are the gasoline prices of the companies significantly different with significance level of 0.05? C. Estimate the confidence level of the variance in the process for each company with a 95 percent confidence. D. Are the variance of the gasoline prices of the two rental companies significantly different?
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Answer rating: 100% (QA)
SOLUTION To estimate the confidence interval for the prices of gasoline for each rental company with a 95 percent confidence level we can use the formula for the confidence interval of a population me... View the full answer
Related Book For
Elementary Linear Algebra with Applications
ISBN: 978-0471669593
9th edition
Authors: Howard Anton, Chris Rorres
Posted Date:
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