The price drivers pay for gasoline often varies a great deal across regions throughout the United States. The following data show the price per gallon for regular gasoline for a random sample of gasoline service stations for three major brands of gasoline (Shell, BP, and Marathon) located in eleven metropolitan areas across the upper Midwest region (OhioGasPrices.com website, March 18, 2012). Click on the datafile logo to reference the data. Use = .05 to test for any significant difference in the mean price of gasoline for the three brands. Round SS to 6 decimals, MS to 6 decimals, F to 2 decimals and p to 3 decimals, if necessary. If your answer is zero, enter "0". Source DF SS MS F p Metropolitan Area Brand Error Total The p-value is - Select your answer -less than .05between .05 and .125between .025 and .05between .05 and .10greater than .05Item 16 . What is your conclusion?- Select your answer -Conclude that there is a significant difference in the mean price per gallon.Conclude that there is no significant difference in the mean price per gallon.Item 17 Metropolitan Area Shell BP Marathon Akron, Ohio 3.77 3.83 3.78 Cincinnati, Ohio 3.72 3.83 3.87 Cleveland, Ohio 3.87 3.85 3.89 Columbus, Ohio 3.76 3.77 3.79 Ft. Wayne, Indiana 3.83 3.84 3.87 Indianapolis, Indiana 3.85 3.84 3.87 Lansing, Michigan 3.93 4.04 3.99 Lexington, Kentucky 3.79 3.78 3.79 Louisville, Kentucky 3.78 3.84 3.79 Muncie, Indiana 3.81 3.84 3.86 Toledo, Ohio 3.69 3.83 3.86
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
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The price drivers pay for gasoline often varies a great deal across regions throughout the United States. The following data show the price per gallon for regular gasoline for a random sample of gasoline service stations for three major brands of gasoline (Shell, BP, and Marathon) located in eleven metropolitan areas across the upper Midwest region (OhioGasPrices.com website, March 18, 2012). Click on the datafile logo to reference the data.
Use = .05 to test for any significant difference in the
The p-value is - Select your answer -less than .05between .05 and .125between .025 and .05between .05 and .10greater than .05Item 16 . What is your conclusion? |
| Metropolitan Area | Shell | BP | Marathon |
| Akron, Ohio | 3.77 | 3.83 | 3.78 |
| Cincinnati, Ohio | 3.72 | 3.83 | 3.87 |
| Cleveland, Ohio | 3.87 | 3.85 | 3.89 |
| Columbus, Ohio | 3.76 | 3.77 | 3.79 |
| Ft. Wayne, Indiana | 3.83 | 3.84 | 3.87 |
| Indianapolis, Indiana | 3.85 | 3.84 | 3.87 |
| Lansing, Michigan | 3.93 | 4.04 | 3.99 |
| Lexington, Kentucky | 3.79 | 3.78 | 3.79 |
| Louisville, Kentucky | 3.78 | 3.84 | 3.79 |
| Muncie, Indiana | 3.81 | 3.84 | 3.86 |
| Toledo, Ohio | 3.69 | 3.83 | 3.86 |
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