MAT 1450 LAB Gas Prices In this activity, you will investigate the price of gasoline in the Dayton area. Part 1 - Estimate the mean price of regular gasoline in the Dayton area. 1. What is the population you will be studying? 2. Think carefully about how you are going to get a good sample to calculate a sample mean. For example, driving around your neighborhood and writing down gas prices is an example of a convenience sample and should be avoided. Think of a more efficient way to collect gas prices that will also cover the whole Dayton area. Write a paragraph or two explaining how you collected your sample and why you think your sample is representative of Dayton gas prices. 3. What is the mean of your sample? 4. Construct a 95% confidence interval for the population mean price of gasoline in the Dayton area. 5. Explain what this confidence interval tells you. Part 2 - Compare your sample estimate to the current mean gas in the State of Ohio. 6. Find the mean price of gasoline in the State of Ohio. You might try using http:/www.gasbuddy.com/USA. 7. What is the population for this part? 8 . Set up a null and alternative hypothesis to see if your sample for Dayton is enough to prove that the population mean gasoline price in Dayton is different than the mean price in Ohio. Test the hypotheses. Show your work. If you haven't learned about the t- distribution, use o = 0.075. 9. Using a = 0.05, what is your conclusion? Part 3 - Compare your sample estimate to the current mean gas in the U.S. 10. What is the mean price of gasoline in the U.S.? You might try using http:/www.gasbuddy.com/Charts. 1. What is the population for this part? 12. Set up a null and alternative hypothesis to see if your sample for Dayton is enough to prove that the population mean price in Dayton is different than the mean price in the U.S. Test the hypotheses. Show your work. If you haven't learned about the t- distribution, use o = 0.075. 13. Using a = 0.05, what is your conclusion? YOUR LAB REPORT: Turn in all the parts of this activity including: Answers to the questions in complete sentences All the data for Dayton gas prices All calculations for your confidence interval and tests of significance . Your final presentation must be neat and well organized for full credit