AAA reported that the average price of regular gasoline in Pennsylvania was $3.65 per gallon. The following
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AAA reported that the average price of regular gasoline in Pennsylvania was $3.65 per gallon. The following data show the price per gallon of regular gasoline for 15 randomly selected stations in the state. These data can also be found in the Excel file titled PA gas prices.xlsx.
$3.73 $3.59 $3.74 $3.65 $3.71
$3.73 $3.51 $3.71 $3.61 $3.64
$3.58 $3.46 $3.64 $3.74 $3.58
a. Construct a 90% confidence interval to estimate the average price per gallon of gasoline in the state.
b. Do the results from this sample validate AAA’s findings?
c. Verify this interval using Excel.
d. What assumptions need to be made about this population?
AppendixLO1
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