Q31. The average gasoline price of one of the major oil companies has been $2.20 per gallon. Because of cost reduction measures, it is believed that there has been a significant reduction in the average price. In order to test this belief, we randomly selected a sample of 36 of the company's gas stations and determined that the average price for the stations in the sample was $2.14. Assume that the standard deviation of the population () is $0.12. (9.5 points )

A.State the null and the alternative hypotheses. (1.5 point)

B.Compute the test statistic. (2 points)

C.What is the p-value associated with the above sample results? (3 points )

D. Using = .05, test the company's claim and state your conclusion (3 points)

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