I need help solving the followign problem. An automobile club reported that the

Question

I need help solving the followign problem.

An automobile club reported that the average price of regular gasoline in a certain state was $2.62 per gallon. The following data show the price per gallon of regular gasoline for 15 randomly selected stations in the state. Complete parts a through c below 2.53 2.63 2.73 2.52 2.57 2.58 2.66 2.54 2.63 2.67 2.67 2.52 2.73 2.71 2.59 a. Construct a 90% confidence interval to estimate the average price per gallon of gasoline in the state to $ The 90% confidence interval to estimate the average price per gallon of gasoline in the state is from $1 (Round to the nearest cent.) b. Do the results from this sample validate the automobile club's findings? A. Since the population mean, $2.62, is not contained within the 90% 0 B. Since the population mean, $2.62, is not contained within the 90% confidence interval, it can be said with 90% confidence that the sample validates the automobile club's findings Since the population mean, $2.62, is contained within the 90% confidence interval, it can be said with 90% confidence that the sample validates the automobile club's findings confidence interval, it can be said with 90% confidence that the sample does not validate the automobile club's findings ° C. 0 D. Since the population mean, $2.62, is contained within the 90% confidence interval, it can be said with 90% confidence that the sample does not validate the automobile club's findings

Explanation / Answer

margin of error = 1.645 * 0.0749/sqrt(15)

= 0.0318

lower bound = 2.618 - 0.0318 = 2.5862

upper bound = 2.618 + 0.0318 = 2.6498

b)

choose C)

since population mean is in the confidence interval

c)

choose A

2.53 2.63 2.52 2.52 2.66 2.59 2.67 2.73 2.63 2.57 2.54 2.67 2.71 2.73 2.58 mean 2.618666667 standard deviation 0.0749

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