According to a study the mean price of s gallon of unleaded


According to a study, the mean price of s gallon of unleaded regular gasoline in the United States is $2.45. A s sample of 25 Chicago area gas stations shows the mean price of $2.55. The standard deviation of the population is known to be $0.50. Develop a hypothesis test that can be used to determine whether the mean price of a gallon of unleaded regular gasoline in the Chicago area is different than $2.45 (using the alpha of 5%).

Request for Solution File

Ask an Expert for Answer!!
Operation Management: According to a study the mean price of s gallon of unleaded
Reference No:- TGS01125488

Expected delivery within 24 Hours