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segment on the price of gasoline




NBC TV news, in a segment on the price of gasoline, reported last evening that the mean price nationwide is $1.50 per gallon for self-serve regular unleaded. A random sample of 35 stations in the Milwaukee, WI, area revealed that the mean price was $1.52 per gallon and that the standard deviation was $0.05 per gallon. At the.05 significance level, can we conclude that the price of gasoline is higher in the Milwaukee area? Calculate the p-value and interpret.


Paper#26533 | Written in 18-Jul-2015

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