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Suppose a study reports that the average price for a gallon of self-
serve regular unleaded gasoline is $3.16. You believe that thefigure
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 (all in $). Assume gasoline prices for a region are normally
distributed. Do the data you obtained provide enough evidence to
reject the claim? Use a 1% level of significance.
3.27 3.29 3.20 3.23 3.16 3.07 3.15 3.23 3.21 3.14
Question 3
3.16 3.20 3.37 3.19 3.20 3.24 3.27 3.09 3.35 3.14 3.05 3.35 3.14 3.07
3.10
Where do CFOs get their money news? According to Robert Half
International, 47% get their money news from newspapers, 15% get
it from communication/colleagues, 12% get it from television, 11%
from the Internet, 9% from magazines, 5% from radio, and 1% do
not know. Suppose a researcher wants to test these results. She
randomly samples 67 CFOs and finds that 40 of them get their
money news from newspapers. Does the test show enough evidence
to reject the findings of Robert Half International? Use a = .05.
Question 4
To answer this question, use the Data Analysis Toolpack in Excel
and select “t-Test: Two-Sample Assuming Equal Variances” from
the list of available tools. Explain your answer (how did you decide
if men spend more) and include the output table. Some studies have
shown that in the United States, men spend more than women