Question: i cannot figure out how to do these problems. can anyone help? An energy company claims the average gasoline price is less than $1.20 per

i cannot figure out how to do these problems. can anyone help?
 i cannot figure out how to do these problems. can anyone
help? An energy company claims the average gasoline price is less than
$1.20 per gallon. In order to test their claim, we randomly selected
a sample of 64 of their gas stations and determined the average

An energy company claims the average gasoline price is less than $1.20 per gallon. In order to test their claim, we randomly selected a sample of 64 of their gas stations and determined the average price per gallon of the stations sampled is $1.15. We assume the standard deviation of the population is $0.14. Test the company's claim with an alpha value of 0.05. c. What is decision for this test? Question 14 options: Reject the null hypothesis DNR the null hypothesis None of the above An energy company claims the average gasoline price is less than $1.20 per gallon. In order to test their claim, we randomly selected a sample of 64 of their gas stations and determined the average price per gallon of the stations sampled is $1.15. We assume the standard deviation of the population is $0.14. Test the company's claim with an alpha value of 0.05. b. What is the critical value for the proper hypothesis test? Question 7 options: 1.23 1.17 1.15 None of the above An energy company claims the average gasoline price is less than $1.20 per gallon. lo.order to test their claim, we randomly selected a sample of 64 of their gas stations and determined the average price per gallon of the stations sampled is $1.15. We assume the standard deviation of the population is $0.14. Test the company's claim with an alpha value of 0.05. a. What is the null hypothesis? Question 17 options: -$1.15 WHL - $1.20 WC-$1.20 None of the above A sample of 53 electric bills were taken from Fort Worth homes. The average price of the bills was $256.25 with a standard deviation (S) of $15.25. Sixty-seven bills were sampled from the Dallas homes. The average price of those 67 bills was $389.00 with a standard deviation (s) of $19.26. Calculate a 95% confidence interval for the difference in the average bill values for the two cities. What conclusion can be drawn about the difference between the two cities? Show your work and confidence interval/hypothesis test range on your hand work. Question 23 options: You are 95% confident that the Fort Worth bills are $127.55 to $137.95 lower than Dallas. There is no statistically significant difference. You are 95% confident that the Fort Worth bills are $126.58 to $138.92 lower than Dallas None of the above

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!