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The question is as follows: AAA reported that the average price of regular gasoline is Pennsylvania during Memorial Day weekend in 2010 was $2.65 per
The question is as follows:
AAA reported that the average price of regular gasoline is Pennsylvania during Memorial Day weekend in 2010 was $2.65 per gallon. The following data show the price per gallon of regular gasoline for 15 randomly selected stations in the state.
$2.73 $2.59 $2.74 $2.65 $2.71
$2.73 $2.51 $2.71 $2.61 $2.64
$2.58 $2.46 $2.64 $2.74 $2.58
Your report should include the following sections:
- Title page
- Introduction and problem background
- Data description
- Calculate the mean - show your calculations. Give an explanation as to what this means in relation to this problem.
- Calculate the standard deviation - show your calculations. Give an explanation as to what this means in relation to this problem.
- Provide an image of the box-plot of the data.
- Calculate the median - show your calculations. Give an explanation as to what this means in relation to this problem.
- Calculate the first and third quartiles - show your calculations. Give an explanation as to what this means in relation to this problem.
- Calculate the upper and lower limits of the box-plot - show your calculations. Give an explanation as to what this means in relation to this problem.
- Construct the 95% confidence interval to 4 decimal places (make sure to include whether you used z or t) - show your calculations. Give an explanation as to what this means in relation to this problem.
- Perform the appropriate hypothesis test. Be sure to state your significance level, test statistic, and p-value (make sure to include whether you used z or t) - show your calculations. Give an explanation as to what this means in relation to this problem.
- Analyses
- Describe the skewness of the data.
- Describe the similarities and differences between the box plot and confidence interval calculated.
- State the conclusion of your hypothesis test.
- Interpretation of results and conclusion
- Do your confidence interval and hypothesis test agree? Explain.
- Do the results from the sample validate AAA 's findings that the average price of gasoline was $ 2.65 per gallon? Explain.
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