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Random Sample : Solution Set

Each month the American Automobile Association (AAA) generates a report on gasoline prices that it distributes to newspapers throughout the state. On February 17, 1999, AAA called a random sample of 51 stations to determine that day's price of unleaded gasoline. The resulting data (in dollars) is shown as follows:

1.07 1.31 1.18 1.01 1.23 1.09 1.29 1.10 1.16 1.08
0.96 1.66 1.21 1.09 1.02 1.04 1.01 1.03 1.09 1.11
1.11 1.17 1.04 1.09 1.05 0.96 1.32 1.09 1.26 1.11
1.03 1.20 1.21 1.05 1.10 1.04 0.97 1.21 1.07 1.17
0.98 1.10 1.04 1.03 1.12 1.10 1.03 1.18 1.11 1.09
1.06

Create a data array with the gasoline price data.
Create two histograms for this data set using 5 classes for the first and 15 classes for the second. Estimate the number of prices that are at least $1.15 using each of the preceding histograms.
A local radio station has reported that 30% of the gas stations are charging $1.15 or more for gasoline. Use one of the histograms you have produced to respond to this report. Which histogram did you use? Why?

Solution Summary

The solution is given as a 3-paged word document complete with step-by-step calculations, worded explanation and a graph to aid understanding.

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