Question: Suppose a study reports that the average price for a gallon of self-serve regular unleaded gasoline is $3.76. You believe that the figure is higher

Suppose a study reports that the average price for a gallon of self-serve regular unleaded gasoline is $3.76. You believe that the figure is higher in your area of the country. You decide to test this claim for your part of the United States by randomly calling gasoline stations. Your random survey of 25 stations produces the following prices.

Suppose a study reports that the average price
End of Section Problem 9.18 Suppose a study reports that the average price for a gallon of self-serve regular unleaded gasoline is $3.76. You believe that the figure is higher in your area of the country. You decide to test this claim for your part of the United States by randomly calling gasoline stations. Your random survey of 25 stations produces the following prices. $3.87 3.80 3.76 3.75 3.81 $3.89 3.83 3.67 3.83 3.74 $3.76 3.79 3.87 3.74 3.74 $3.80 3.80 3.69 3.65 3.67 $3.97 3.84 3.95 3.95 3.70 Appendix A Statistical Tables Assume gasoline prices for a region are normally distributed. Do the data you obtained provide enough evidence to reject the claim? Use a 1% level of significance. (Round the intermediate values to 2 decimal places. Round your answer to 2 decimal places.) The value of the test statistic is t = and we \\:3

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 Mathematics Questions!