The Following Data Was Collected Comparing Gasoline Prices

question 137

Essay

The following data was collected comparing gasoline prices. Compute a simple aggregate index comparing gas prices in 2010 to gas prices in 2000.

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Definitions:

Pooled Standard Deviation

A method to estimate the overall standard deviation from several different samples or groups, assuming each group has the same variance.

Sample Means

The average values obtained from statistical samples drawn from a population.

Zone Boundaries

Predetermined limits in a chart or graph that separate different levels of data for analysis or categorization purposes.

Lower Control Limit

In quality control charts, it is a threshold value below which a process is considered out of control and indicating a systemic decrease in quality.