I Have a project to get done I would like to know if you guys can help me with that thanks.

Study on the Amount of Money Spent on Gas per Week

Eril Rodriguez

MCC

Elem Statistics w/Computer App 165

Professor Myrta

07/21/2022

Introduction

I’d like to determine the average amount of money spent by individuals in the US to purchase gasoline per week. I chose this topic because various American households spend as much money on the direct cost of home ownership or rent as on transportation costs making transportation the second largest spending category for the average household.

Project goal

I’m interested in determining the average weekly prices for gasoline. The computed average weekly prices of gasoline will then be compared to recent weekly prices to determine the overall trend. I expect the gas prices to be less than 50 dollars weekly per person even with the increase in gas prices lately. I am convinced that my prediction will be right because of my own experience putting gas and never spending more than 50 dollars a week even though my commute to work is long.

Data collection

The data I’ll be using in this research was computed from a local sam’s club gas station near my house and a couple of friends from my WhatsApp contacts. Participants in the platforms were asked certain questions regarding the prices of gasoline. The sample data was then computed in Microsoft Excel to calculate the necessary sample statistics (mean, median, mode, standard deviation) to perform a t-test and construct a 95% confidence interval.

• The average of the data = 48

• The median of the data = 45

• The mode of the data = 30

• The standard deviation of the data = 23.5

Classify data using class Intervals

Total = 50

Results

The average spend in gas per week is 48 dollars as such, my hypothesis that the prices for gasoline have not surpassed 50 dollars in gas per week was right.

In conclusion, I can be 95% confident that the current weekly prices for gasoline $48 in gas per week respectively are outliers and hugely differ from the average prices for gasoline over the last two years. This is due to various factors including the war in Ukraine and increasing inflation levels.