Posted by **Alex** on Tuesday, November 12, 2013 at 8:44pm.

The average gasoline price of one of the major oil companies has been

$3.20 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 $3.14. 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. At 95% confidence, test the company’s claim.

Not sure exactly how to calculate. Help would be appreciated. Thank you.

## Answer This Question

## Related Questions

- math - on january 1,1999,the price of gasoline was$1.39 per gallon .if the ...
- statistics - according to the energy information administration (officially ...
- Calculus - A movie theater wants to determine the price per ticket that should ...
- Adv. Math - In January, gasoline cost $1.05 per gallon. In July, gasoline cost $...
- Adv. Math - Can someone else explain it but more easier for an 8th grader ...
- Math - If the price of gasoline in Germany is about $1 per liter, what is the ...
- Math, HELP!! PLEASE! IMMEDIATELY! - After a 25% reduction, you purchase a ...
- Managerial Economics - The coefficient of the price of gasoline in the ...
- Math - Ms.abbot went on a road trip. The trip was 792 miles and the average ...
- Math - Brent received two bills with his monthly gasoline statement. One bill ...

More Related Questions