Question 1 The American Automobile Association reported that the mean price of a gallon of regular grade gasoline in the city of Los Angeles in January 2017 was $2.82, A recently taken simple random sample of 50 gas stations in Los Angeles had an average price of $2.77. Assume that the population standard deviation of prices is $0.15. An economist is interested in determining whether the mean price is less than $2.82. Perform a hypothesis test at the a = 0.05 level of significance. i. Write hypotheses for the given scenario. ii. Find the test statistic iii. Find the p - value iv. Compare the p - value with the significance level and state the conclusion. (State the conclusion relating it to the given practical case)