The average gasoline price of one of the major oil companies has been $1.00 per gallon. Because of shortages in production of crude oil, it is believed that there has been a significant increase in the average price. In order to test this belief, we randomly selected a sample of 36 of the company's gas stations and determined that the average price for the stations in the sample was $1.10. Assume that the standard deviation of the population ($\sigma$) is $0.12.
a.State the null and the alternative hypotheses.
b.Test the claim at $\infty$ = .05.
c.What is the p-value associated with the above sample results?

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The Answer of The average gasoline price of one of the major oil companies has been $1.00 per gallon. Because of shortages in production of crude oil, it is believed that there has been a significant increase in the average price. In order to test this belief, we randomly selected a sample of 36 of the company's gas stations and determined that the average price for the stations in the sample was $1.10. Assume that the standard deviation of the population ($\sigma$) is $0.12.
a.State the null and the alternative hypotheses.
b.Test the claim at $\infty$ = .05.
c.What is the p-value associated with the above sample results?

The Average Gasoline Price of One of the Major Oil σ\sigmaσ

The Average Gasoline Price of One of the Major Oil $\sigma$