Question
GENERAL: This should be written in essay format, like a report for a boss seeking to understand the differences in gas prices. This project does
GENERAL: This should be written in essay format, like a report for a boss seeking to understand the differences in gas prices. This project does NOT require additional library work or research (e.g. you do not need to provide an economic or policy background between the two states). Begin by explaining that you are comparing gas prices in the two states as part of a report (in your own words). I've generated two datasets for you to use. Then go on to explain the analyses and comparisons you did following the instructions below. You don't need to do additional analyses, just follow the items requested below. For each, give your result but also explain what those results tell you. Then move to the next item for analysis.
PART I (Can use Excel and show the formulas) 1. Take the given dataset for a random sample of gas prices (regular fuel) in 30 places in California, and 30 places in Nevada. Calculate the mean, standard deviation, and median for each dataset, and include them in your write-up.
2. What is the confidence interval for each?
3. Compare and contrast the data for these two states.