This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The average gasoline price of one of the major oil companies has been $2.20 per gallon. Because of ... (Read 48 times)

Katmoss16

  • Full Member
  • ***
  • Posts: 156
on: Mar 25, 2023

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 (σ) is $0.12.

a.State the null and the alternative hypotheses.
b.Compute the test statistic.
c.What is the p-value associated with the above sample results?
d.At 95% confidence, test the company's claim.

Essentials of Statistics for Business and Economics ¦ Anderson, Sweeney, Williams, Camm, Cochran ¦ 7th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Katmoss16 on Mar 25, 2023

labrinker

  • Full Member
  • ***
  • Posts: 162
Reply #1 on: Mar 25, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


Katmoss16

  • Member
  • Posts: 156
Reply 2 on: Mar 25, 2023
YES! Correct, THANKS for helping me on my review

xoxo123

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Killer Whale - Size comparison to an average human. Killer Whale - Size comparison to an average human.
Functional MRI Scans These scans of human brains show localized average increases in neural activity Functional MRI Scans These scans of human brains show localized average increases in neural activity
Major Diagnostic Categories of Mental Disorders Major Diagnostic Categories of Mental Disorders
Major Wind Systems: Sea and Land Breezes Major Wind Systems: Sea and Land Breezes
The two major forms of polynucleotide secondary structure The two major forms of polynucleotide secondary structure
Calculate the weighted-average cost of the following inventory purchases:DateQuantity ... Calculate the weighted-average cost of the following inventory purchases:DateQuantity ...
Video: X chromosome inactivation in calico cats

For a complete list of videos, visit our video library