Can anyone help with this question? please Mobile and Exxon, the nation s\' two
ID: 3391787 • Letter: C
Question
Can anyone help with this question? please
Mobile and Exxon, the nation s' two largest oil companies have recently reduced their wholesale prices for gasoline. Mobile claims that their gas stations now sell, on the average, one gallon of regular gas at a lower price than Exxon brand. In a recent study the price of one gallon of regular gas for 8randomly selected Mobile gas stations has a mean of $2.20 and a standard deviation of $0.11; and the price of one gallon of regular gas in 12 randomly selected Exxon gas stations have a mean of $2.29 and a standard deviation of $0.07. Assuming that the two population standard deviations are equal, a 99% confidence interval for the true difference in average price per one gallon of regular gas of Mobile brand and Exxon brand of gas is given by:
(2.20-2.29)+-2.878 {[[7(.11)^2 + 11(.07)^2] /18][(1/8) + (1/12)]}^.5
(2.20-2.29)+-2.528 {[(.11)^2 / 8] + [(.07)^2 / 12]}^.5
(2.20-2.29)+-2.552 {[[7(.11) + 11(.07)] /18][(1/8) + (1/12)]}^.5
(2.20-2.29)+-2.878 ((.11)^2 /8 + (.07)^2 /12)^.5
a.(2.20-2.29)+-2.878 {[[7(.11)^2 + 11(.07)^2] /18][(1/8) + (1/12)]}^.5
b.(2.20-2.29)+-2.528 {[(.11)^2 / 8] + [(.07)^2 / 12]}^.5
c.(2.20-2.29)+-2.552 {[[7(.11) + 11(.07)] /18][(1/8) + (1/12)]}^.5
d.(2.20-2.29)+-2.878 ((.11)^2 /8 + (.07)^2 /12)^.5
Explanation / Answer
alpha = 1 - 0.99 = 0.01
alpha/2 = 0.005
df = 12+8-2 = 18
t = 2.878
(2.20-2.29)+-2.878 ((.11)^2 /8 + (.07)^2 /12)^.5