Question
In: Statistics and Probability
A national study shows that in 2006 the average price of gasoline was $2.51 per gallon....
A national study shows that in 2006 the average price of gasoline was $2.51 per gallon. The population standard deviation was shown to be $0.61. A 2007 random study of 81 Maryland gas stations showed the average price of gasoline per gallon to be $2.73. Is there significant evidence to suggest that the average price of a gallon of gasoline is more in Maryland in 2007? Test at the 10% significance level.
Solutions
orchestra answered 1 year agoRelated Solutions
Oil and Gas Prices The average gasoline price per gallon (in cities) and the cost of...
Oil and Gas Prices The average gasoline price
per gallon (in cities) and the cost of a barrel of oil are shown
below for a random selection of weeks in
2015
.
Oil (
$
)
Gasoline (
$
)
55.78
2.654
41.96
2.269
52.08
2.445
57.28
2.710
58.15
2.805
67.59
3.071
The correlation coefficient for the data is
=r0.978
and
=α0.01
. Should regression analysis be done?
The regression
analysis should not be done.
The regression
analysis should be...
Oil and Gas Prices The average gasoline price per gallon (in cities) and the cost of...
Oil and Gas Prices The average gasoline price per gallon (in
cities) and the cost of a barrel of oil are shown below for a
random selection of weeks in 2015. Oil ($) Gasoline ($) 55.78 2.654
41.96 2.269 52.08 2.445 57.28 2.710 58.15 2.805 67.59 3.071
Oil and Gas Prices The average gasoline price per gallon (in cities) and the cost of...
Oil and Gas Prices The average gasoline price
per gallon (in cities) and the cost of a barrel of oil are shown
below for a random selection of weeks from 2015.
Oil
$47.79
$44.62
$81.08
$43.67
$40.58
$48.64
Gasoline
2.638
2.636
2.944
2.528
2.623
2.682
1) The correlation coefficient for the data is r =
0.951 and a = 0.01. Should regression analysis be
done?
a) The regression analysis should not be done or b) The
regression analysis should be...
Suppose a study reports that the average price for a gallon of self-serve regular unleaded gasoline...
Suppose a study reports that the average price for a gallon of
self-serve regular unleaded gasoline is $3.76. You believe that the
figure is higher in your area of the country. You decide to test
this claim for your part of the United States by randomly calling
gasoline stations. Your random survey of 25 stations produces the
following prices.
$3.87
$3.89
$3.76
$3.80
$3.97
3.80
3.83
3.79
3.80
3.84
3.76
3.67
3.87
3.69
3.95
3.75
3.83
3.74
3.65
3.95
3.81...
Suppose a study reports that the average price for a gallon of self-serve regular unleaded gasoline...
Suppose a study reports that the average price for a gallon of
self-serve regular unleaded gasoline is $3.76. You believe that the
figure is higher in your area of the country. You decide to test
this claim for your part of the United States by randomly calling
gasoline stations. Your random survey of 25 stations produces the
following prices.
$3.87
$3.89
$3.76
$3.80
$3.97
3.80
3.83
3.79
3.80
3.84
3.76
3.67
3.87
3.69
3.95
3.75
3.83
3.74
3.65
3.95
3.81...
CONSTRUCT A 90% CONFIDENCE INTERVAL OF THE AVERAGE GASOLINE PRICE PER GALLON BASED ON A RECENT...
CONSTRUCT A 90% CONFIDENCE INTERVAL OF THE AVERAGE GASOLINE
PRICE PER GALLON BASED ON A RECENT SAMPLE OF 48 STATIONS. THE
SAMPLE MEAN WAS $2.63. ASSUME THE POPULATION STANDARD DEVIATION IS
$0.31.
At one point the average price of regular unleaded gasoline was $3.543.54 per gallon. Assume that...
At one point the average price of regular unleaded gasoline
was
$3.543.54
per gallon. Assume that the standard deviation price per gallon
is
$0.080.08
per gallon and use Chebyshev's inequality to answer the
following.
(a) What percentage of gasoline stations had prices within
33
standard deviations of the mean?
(b) What percentage of gasoline stations had prices within
2.52.5
standard deviations of the mean? What are the gasoline prices
that are within
2.52.5
standard deviations of the mean?
(c) What...
At one point the average price of regular unleaded gasoline was $3.53 per gallon. Assume that...
At one point the average price of regular unleaded gasoline was
$3.53 per gallon. Assume that the standard deviation price per
gallon is $0.07
per gallon and use Chebyshev's inequality to answer the
following.
(a) What percentage of gasoline stations had prices within 3
standard deviations of the mean?
(b) What percentage of gasoline stations had prices within 2.5
standard deviations of the mean? What are the gasoline prices that
are within 2.5 standard deviations of the mean?
(c) What...
The average price for a gallon of gasoline in the United States is 3.75 and in...
The average price for a gallon of gasoline in the United States
is 3.75 and in Russia it is 3.37. Assume these averages are the
population means in the two countries and that the probability
distributions are normally distributed with a standard deviation of
.25 in the United States and a standard deviation of .20 in Russia.
a. What is the probability that a randomly selected gas station in
the United States charges less than ________ per gallon (to 4...
The average price for a gallon of gasoline in the United States is $3.74 and in...
The average price for a gallon of gasoline in the United States
is $3.74 and in Russia it is $3.4. Assume these averages are the
population means in the two countries and that the probability
distributions are normally distributed with a standard deviation of
$0.25 in the United States and a standard deviation of $0.20 in
Russia.
a. What is the probability that a randomly
selected gas station in the United States charges less than $3.65
per gallon (to 4...
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