Eric Kannengieszer and Colin Buckley

 Our objective was to run a series of tests involving gas prices  Exxon vs. Lukoil  Pennsylvania vs. New Jersey  Exxon PA vs. Exxon NJ  Lukoil PA vs. Lukoil NJ  Wanted to determine what station was cheapest

 We Google Maps searched PA and NJ Exxon and Lukoil stations and randomly selected 10 of each.  We numbered each location and used our calculator to randomly select the stations  We picked four days from our break and called each location to record the prices

 Ho: µ E =µ L  Ha: µ E ≠µ L  Conditions: 1. 2 Independent SRS1. yes, performed 2 SRS 2. pop1≥10n2. more than 800 Lukoil’s/Exxon’s pop2≥10n 3. 2 normal populations3. histograms shows normal populations Conditions met →Use students t distribution →2 sample t-test

 We reject the Ho because the p-value is smaller than alpha.05.  We have sufficient that the average price of Exxon gas is not equal to the average price of Lukoil gas.

 Ho: µ NJ =µ PA  Ha: µ NJ <µ PA  Conditions: 1. 2 Independent SRS1. yes, performed 2 SRS 2. pop1≥10n2. more than 800 Lukoil’s/Exxon’s pop2≥10n 3. 2 normal populations3. histograms shows normal populations Conditions met →Use students t distribution →2 sample t-test VS.

 We reject the Ho because the p-value is smaller than alpha.05.  We have sufficient that the mean price of New Jersey is less than the mean price of Pennsylvania.

 Ho: µ NJ =µ PA  Ha: µ NJ <µ PA  Conditions: 1. 2 Independent SRS1. yes, performed 2 SRS 2. pop1≥10n2. more than 400 Exxon’s pop2≥10n 3. 2 normal populations3. histograms shows normal populations Conditions met →Use students t distribution →2 sample t-test

 We reject the Ho because the p-value is smaller than alpha.05.  We have sufficient evidence that the mean price of Exxon’s in NJ is less than that of Exxon’s in PA.

 Ho: µ NJ =µ PA  Ha: µ NJ <µ PA  Conditions: 1. 2 Independent SRS1. yes, performed 2 SRS 2. pop1≥10n2. more than 400 Lukoil’s pop2≥10n 3. 2 normal populations3. histograms shows normal populations Conditions met →Use students t distribution →2 sample t-test

 We reject the Ho because the p-value is smaller than alpha.05.  We have sufficient evidence that the mean price of Lukoil’s in NJ is less than that of Lukoil’s in PA.

 Miscommunication over the phone  Individual stores within the chain have the same price

 New Jersey gas is substantially cheaper than Pennsylvania gas  Exxon has a wider range of price, but Lukoil has a lower mean price overall  NJ Lukoil’s is the cheapest  If you want gas, go to New Jersey and find a Lukoil