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Data collected by a price reporting agency from more than 90,000 gasoline and convenience stores throughout...

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Basic Math

Data collected by a price reporting agency from more than 90,000gasoline and convenience stores throughout the U.S. showed that theaverage price for a gallon of unleaded gasoline was $3.28. Thefollowing data show the price per gallon ($) for a sample of 20gasoline and convenience stores located in San Francisco.

3.593.594.593.763.753.713.653.803.553.36
3.573.793.554.193.953.463.833.933.413.37

a) Use the sample data to estimate the mean price for a gallonof unleaded gasoline in San Francisco.

b) Compute the sample standard deviation. (Round your answer tothe nearest cent.)

c) Compare the mean price per gallon for the sample data to thenational average price. What conclusions can you draw about thecost of living in San Francisco?

The average price for a gallon of unleaded gasoline in SanFrancisco is  ---Select--- higher than lower than same asthe national average. This indicates that the cost of living in SanFrancisco is  ---Select--- higher than lower than same asit would be for cities that have an average price close to thenational average.

Answer & Explanation Solved by verified expert
4.4 Ratings (658 Votes)
We have n 20 x 744 and x 2 16356a Sample mean 744 20Sample mean price for a gallon of    See Answer
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