It was reported that last year the average price of a gallon gasoline in a city X was $3.15. This year a sample of 50 gas station had an average price of $3.10 for a gallon. We assume that the population standard deviation of prices is $0.15. We are interested in determining whether this year mean price is less than last year. Perform a hypothesis test at the level of significance α=0.05.
Already registered? Login
Not Account? Sign up
Enter your email address to reset your password
Back to Login? Click here