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Question
The average gasoline price of one of the major oil companies has been $1.00 per gallon. Because of shortages in production of crude oil, it is believed that there has been a significant increase 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 $1.10. Assume that the standard deviation of the population (
) is $0.12.a. State the null and the alternative hypotheses.
b. Test the claim at
= .05.c. What is the p-value associated with the above sample results?
Answer
This answer is hidden. It contains 131 characters.
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