Problem 1. (60 points). Gas prices in Atlanta right now. A
random sample of gas prices in Atlanta has revealed that the
average gas price per gallon is $2.37 and a standard deviation of
0.6 ( HYPERLINK
“http://www.atlantagasprices.com”http://www.atlantagasprices.com ).
The number of data points in this sample is 36.
a. (30 points) Construct a 95 percent confidence interval for
the average gas prices in Atlanta. Today. Based on these results
are the average gas prices lower than the listed national average
of $2.5/gallon?
b. (20 points) Construct a 90 percent confidence interval for
the average gas prices in Atlanta. Today. Based on these results
are the average gas prices lower than the listed national average
of $2.5/gallon?
c. (10 points) Are results from a and b in agreement? Why or why
not?
