The average gasoline price of one of the major oil companies has been $2.20 per gallon. Because of cost reduction measures, it is believed that there has been a significant reduction in the average price. In order to test this belief, we randomly selected a sample of 36 of the company's gas stations and determined that the average price for the stations in the sample was $2.14. Assume that the standard deviation of the population (s) is $0.12.
a.
State the null and the alternative hypotheses.
b.
Compute the test statistic.
c.
What is the p-value associated with the above sample results?
d.
At 95% confidence, test the company's claim.
Answers: 2
Business, 21.06.2019 16:00
Five times the sum of a number and 27 is greater then or equal to six times the of that number and 26. what is the solution set to this proportion?
Answers: 1
Business, 22.06.2019 10:30
What type of budget is stated? a budget is a type of financial report that scrutinizes the inflow and outflow of money in a given financial year.
Answers: 1
Business, 22.06.2019 16:30
Which of the following has the largest impact on opportunity cost
Answers: 3
Business, 22.06.2019 21:30
True or false payroll withholding includes income tax, social security tax, medicare tax as well as money you deduct for your retirement fund.
Answers: 1
The average gasoline price of one of the major oil companies has been $2.20 per gallon. Because of c...
Mathematics, 17.06.2021 18:10
Mathematics, 17.06.2021 18:10
Mathematics, 17.06.2021 18:10
Mathematics, 17.06.2021 18:10
Mathematics, 17.06.2021 18:10
Mathematics, 17.06.2021 18:10
Physics, 17.06.2021 18:10
Mathematics, 17.06.2021 18:10
Social Studies, 17.06.2021 18:10
Chemistry, 17.06.2021 18:10
Geography, 17.06.2021 18:10