Gas Prices - Online
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Sinclair Community College *
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Course
1450
Subject
Mathematics
Date
Apr 3, 2024
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docx
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MAT 1450 LAB - Online
Gas Prices
In this activity, you will investigate the price of gasoline in the Dayton area.
Part 1
- Estimate the mean price of regular gasoline in the Dayton area.
1.
What is the population you will be studying?
2.
Use ChatGPT or another electronic source to generate a sample of gas prices in the Dayton area.
Your prompt will need to be specific to meet the two criteria below.
o
Be sure your sample is regular gas type. o
Ensure you have at least 25 pieces of data.
3.
What is the mean, standard deviation, and n
of this sample?
4.
Construct a 95% confidence interval for the population mean price of gasoline in the Dayton area.
5.
Explain what this confidence interval tells you.
Part 2
- Compare your sample estimate to the current mean gas in the State of Ohio.
6.
Find a data set for price of regular gasoline in the State of Ohio. You might try using http://www.gasbuddy.com/USA
.
7.
What is the mean, standard deviation, and n
of this sample?
8.
Set up a null and alternative hypothesis to see if your sample for Dayton is enough to prove that the population mean gasoline price in Dayton is different than the mean price in Ohio at the α = 0.05 significance level. Test the hypotheses. Show your work. 9.
What is your conclusion?
Part 3
- Compare your sample estimate to the current mean gas in the U.S.
10.
Find a data set for the prince of regular gasoline in the U.S.? You might try using http://www.gasbuddy.com/Charts
.
11.
What is the mean, standard deviation, and n
of this sample?
12.
Set up a null and alternative hypothesis to see if your sample for Dayton is enough to prove that the population mean price in Dayton is different than the mean price in the U.S. at the α = 0.05 significance level. Test the hypotheses. Show your work. 13.
What is your conclusion?
YOUR LAB REPORT
:
Turn in all the parts of this activity including:
Answers to the questions in complete sentences
Each data set used for calculations
All calculations for your confidence interval and hypothesis tests
Your final presentation must be neat and well organized for full credit
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