Conclusion: The estimated P-value is 0.693 and greater than 0.05 level of significance. Hence, we retain the null hypothesis and conclude that there is no evidence that the car gets better gas mileage by running on premium gas.
4. Many drivers of cars that can run on regular gas actually buy premium gas in...
A company claims that you can expect your car to get one mpg better gas mileage while using their gasoline additive. A magazine did a study to find out how much a car’s gas mileage improved while using the gasoline additive. The study used 36 cars and recorded the average mpg with and without the additive for each car in the study. The cars with the additive averaged 1.20 mpg better than without and had a variance of 0.36 (mpg)2.a....
Question 14 (1 point) In a consumer research study, several Meijer and Walmart stores were surveyed at random and the average basket price was recorded for each. You wish to determine if the average basket price for Meijer is less than the average basket price for Walmart. It was found that the average basket price for 24 randomly chosen Meijer stores (group 1) was $51.574 with a standard deviation of $11.9675. Similarly, a random sample of 15 Walmart stores (group...
Premier Motorcars is the new Fiat dealer in Delavan, Illinois. Premier Motorcars has been regularly advertising in its local market area that the new Fiat 500 average 30 miles to a gallon of gas and mentions that this figure may vary with driving conditions. A local consumer group wishes to verify the advertising claim. To do so, it selects a sample of recent purchasers of Fiat 500. It asks them to drive their cars until two tanks of gasoline have...
for these questions I need help on just the questions on all of them where it says "what is the value of the sample test statistic?" 24.) The average annual miles driven per vehicle in the United States is 11.1 thousand miles, with σ ≈ 600 miles. Suppose that a random sample of 36 vehicles owned by residents of Chicago showed that the average mileage driven last year was 10.9thousand miles. Does this indicate that the average miles driven per...
The price to earnings ratio (P/E) is an important tool in financial work. A random sample of 14 large U.S. banks (J. P. Morgan, Bank of America, and others) gave the following P/E ratios.† 24 16 22 14 12 13 17 22 15 19 23 13 11 18 The sample mean is x ≈ 17.1. Generally speaking, a low P/E ratio indicates a "value" or bargain stock. Suppose a recent copy of a magazine indicated that the P/E ratio of...