Chapter 11, Problem 7SE

Gas Prices The website Gasbuddy.com reports the least expensive gas prices in some cities on a daily basis. The following table shows the least expensive gas prices for three cities on June 1, 2018.

a. Assuming the overall level of significance is 0.05, what is the Bonferroni-corrected level of

significance for each of the separate tests?

b. Report all three sample means. Which two means are closest to each other?

c. Carry out two-sample t-tests for all three pairs. Instead of using the four-step method, summarize your findings using a table that reports t-test statistics, p-values, and conclusions. Base your conclusions on the Bonferroni-corrected level of significance. Do not assume equal variances. Assume all conditions for two-sample t-tests are met.