AAA reported that the average price of regular gasoline is Pennsylvania during Memorial Day weekend in 2010 was $2.65 per gallon. The following data show the price per gallon of regular gasoline for 15 randomly selected stations in the state.
$2.73 $2.59 $2.74 $2.65 $2.71
$2.73 $2.51 $2.71 $2.61 $2.64
$2.58 $2.46 $2.64 $2.74 $2.58
Your report should include the following sections:
Title page
Introduction and problem background
Data description
Calculate the mean – show your calculations. Give an explanation as to what this means in relation to this problem.
Calculate the upper and lower limits of the box-plot to 4 decimal places – show your calculations Give an explanation as to what this means in relation to this problem.
Construct the 95% confidence interval to 4 decimal places (make sure to include whether you used z or t) – show your calculations. Give an explanation as to what this means in relation to this problem.
Analyses
Describe the similarities and differences between the box plot and confidence interval calculated.
Interpretation of results and conclusion
Do the results from the sample validate AAA ‘s findings that the average price of gasoline was $ 2.65 per gallon? Explain.
