Suppose a study reports that the average price for 1 L of self serve regular unleaded gas
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Suppose a study reports that the average price for 1 L of self serve regular unleaded gas is $1.37. You believe that the figure is higher in your area of the country. You decide to test this claim for your part of Canada by randomly calling gas stations. Your random survey of 25 stations produces the following prices.Assume gas 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.
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Related Book For
Business Statistics For Contemporary Decision Making
ISBN: 9781119577621
3rd Canadian Edition
Authors: Ken Black, Ignacio Castillo
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