View the step-by-step solution to:

Can you please help me with this HW assignment?

Can you please help me with this HW assignment?


Suppose a study reports that the average price for a gallon of self-serve regular unleaded gasoline is $3.16. You believe that the figure is higher in your area of the country. You decide to test this claim for your area of the United States by randomly calling gasoline stations. Your random survey of 25 stations produces the following prices (all in dollars). Assume gasoline prices for a region are normally distributed. Did the data you obtained provide enough evidence to reject the claim? Use a 1% level of significance. Make sure you clearly state both the null and the alternative hypotheses in full sentences. Following your calculations, clearly state the conclusion in the same manner (do not simply say "accept/reject null") and explain how you arrived at this conclusion (based on which metrics). 


3.27

3.3

3.16

3.15

3.11

3.05

3.54

3.25

3.05

3.11

3.13

3.15

3.27

3.14

3.14

3.2

3.3

3.09

3.05

3.07

3.37

3.34

3.35

3.35

3.1

Top Answer

We fail to reject Ho and conclude that there is no sufficient evidence to... View the full answer

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Ask a homework question - tutors are online