Question: The Lundberg Survey which reports gas prices at gas stations
The Lundberg Survey, which reports gas prices at gas stations nationwide, reported recently that the average price for regular grade gasoline in the US was $ 3.42 per gallon (source: moneynews.com). You believe that the current average price for the population of stations in your city is higher. To make your case, you take a random sample of 49 stations in your city and find that the average regular gas price for the stations in the sample is $ 3.46 per gallon. Is this sufficient sample evidence to reject a null hypothesis that the average price of gasoline for the population of gas stations in your city is no more than $ 3.42, at the 5% significance level? Assume the standard deviation of gas prices for the population of gas stations in your city is $.14 per gallon.
Relevant QuestionsYou want to set up a test for the following hypotheses: H0: π > .4 Ha: π < .4 You will have a random sample of 200 population members to make your decision. a. Suppose the sample proportion turns out to be .365. Compute ...MarketingExperiments.com has conducted studies to determine the percentage of online orders that are started by customers and then abandoned for various reasons— poorly designed forms, loss of customer confidence in the ...You have a random sample of 100 population members from each of two populations. You intend to use sample results to test the following hypotheses: H0: μ1 – μ2 < 0 Ha: μ1 – μ2 > 0 a. Suppose the sample results are ...A study is being conducted to compare the average training time for two groups of airport security personnel: those who work for the federal government and those employed by private security companies. In a random sample of ...Based on an online survey done by Symantec Corp., a large Internet security technology company, the company reported that seniors (aged 65 years or older) are the most spam savvy online demographic group and are less likely ...
Post your question