AAA reports that the average price for a gallon of self-serve regular unleaded gasoline in the US is $5.76. You do not believe that the figure is true in your area (San Gabriel). You decide to test AAA's claim in San Gabriel by randomly calling gasoline stations. Your random survey stations and produced the following prices.
5.87 | 5.89 | 5.76 | 5.8 | 5.97 |
5.76 | 5.67 | 5.87 | 5.69 | 5.95 |
5.81 | 5.74 | 5.74 | 5.67 | 5.7 |
5.8 | 5.83 | 5.79 | 5.8 | 5.84 |
5.75 | 5.83 | 5.74 | 5.65 | 5.95 |
Does the data you obtained provide enough evidence to support the claim that unleaded gasoline is $5.76? Please solve using excel and show formulas. Also, please provide detailed explanation for question above.