Question
15. The average gasoline price of Sinclair has been $4.35 per gallon. Recently, the company has undertaken several efficiency measures in order to reduce prices.
15.
The average gasoline price of Sinclair has been $4.35 per gallon. Recently, the company has undertaken several efficiency measures in order to reduce prices. Management is interested in determining whether their efficiency measures have actually reduced prices. A random sample of 29 of their gas stations is selected and the average price is determined to be $4.20 per gallon, with a sample standard deviation of $0.62. The test will be conducted at the 0.10 significance level.
The critical value is
(round the final answer to two decimal places, e.g. 2.57)
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