Mean price of s gallon of unleaded regular gasoline i

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According to a study, the mean price of s gallon of unleaded regular gasoline in the United States is $2.45. A s sample of 25 Chicago area gas stations shows the mean price of $2.55. The standard deviation of the population is known to be $0.50. Develop a hypothesis test that can be used to determine whether the mean price of a gallon of unleaded regular gasoline in the Chicago area is different than $2.45 (using the alpha of 5%).

Reference no: EM13845289

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