1. The figure below shows the monthly fluctuations in the price of gasoline and crude oil between 2008 and 2020. U.S average monthly gasoline and crude oil prices, 2008-2020 dollars per gallon 4.50 4.00 3.50 3.00 2.50 2.00 1.50 1.00 0.50 0.00 menom Jan 2008 Jan 2009 Jan 2010 2016 Jan 2011 Jan 2012 Jan 2013 Jan 2014 Jan 2015 Jan 2017 Jan 2018 Jan 2019 Jan-2020 regular gasoline crude oil Source: U.S. Energy Information Administration Petroleum Marketing Monthly August 2021 NoteRegular gasoline price is the retal price including taxes for at formulations of regular grade gasoline ela Crude oil price is composto rotner acquisition cost of crude of The average price of gasoline in 2017 was approximately $2.50 with a standard deviation of $0.11. The summary information for the monthly average between January 2019 and December 2020 is presented below. This information was obtained from a sample of days in each month. The US Energy Information Administration (EIA) would like to determine if the price of gasoline is significantly less than what it was in 2017 One-Sample Statistics N 24 Mean 2.3835 Std. Deviation 28716 Std. Error Mean .05862 Gasoline Prices ($US) Normal 0. Plot of Gasoline Prices (808) 28 Capected None 20 Observed Valve a) What is the probability that the average monthly gasoline price is more than $0.30 below the 2017 average? b) What is the probability that the average monthly gasoline price is within $0.25 of the 2017 average? c) Construct a 95% confidence interval for the population average monthly gasoline price. d) What is the margin of error for the confidence interval obtained in c)? e) Can you use the confidence interval in c) to test the EIA's hypothesis at the 1% level of significance? Give reasons for your