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Name: Data collected by a price reporting agency from more than 90,000 gasol
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Description: Data collected by a price reporting agency from more than 90,000 gasoline and convenience stores throughout the U.S. showed that the average price for a liter of unleaded gasoline was $0.87. The following data show the price per liter ($) for a sampl

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Data collected by a price reporting agency from more than 90,000 gasoline and convenience stores throughout the U.S. showed that the average price for a liter of unleaded gasoline was $0.87. The following data show the price per liter ($) for a sample of 20 gasoline and convenience stores located in San Francisco.

0.97	0.97	1.25	0.92	0.92	1.00	0.94	0.97	1.01	0.96
0.96	0.97	0.92	1.03	1.12	0.95	0.98	0.97	0.97	0.96

(a)

Use the sample data to estimate the mean price in dollars for a liter of unleaded gasoline in San Francisco. (Round your answer to three decimal places.)

(b)

Compute the sample standard deviation in dollars. (Round your answer to three decimal places.)

(c)

Compare the mean price per liter for the sample data to the national average price. What conclusions can you draw about the cost of living in San Francisco?

The average price for a liter of unleaded gasoline in San Francisco is the national average. This indicates that the cost of living in San Francisco is it would be for cities that have an average price close to the national average.

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