It was reported that last year the average price of gallons of gasoline in a city X was $3.15. This year a sample of 50 gas stations had an average price of $3.10 for a gallon. We assume that the...


It was reported that last year the average price of gallons of gasoline in a city X was $3.15. This year a  sample of 50 gas stations 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's mean price is less than last year. Perform a hypothesis test at the level of significance α=0.05.



Jun 09, 2022
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