Desklib Study Material: Statistics Assignment on Unleaded 91 Fuel Price in Queensland

Task 1
For Part A, a relevant positive is that the submission is in line with the requirements
and achieves the stated objectives with regards to the use of descriptive statistics. The excel
sheet also involves the use of various excel functions that are appropriate for this task. The
only weakness in context of Part A is the failure to refer to the relevant class notes and
textbook. This actually resulted in frequent changes to the draft solution so as to ensure that
all the requirements are complied with. In the future, I would be more vigil in this regards so
as to avoid this unnecessary hassle. The self-marking activity also helped me in ensuring that
the assignment complied with the requirements and hence could potentially lead to improve
quality of my assignments in the future.

Task 3: PART B Written Report
The key objective is to highlight the mean Unleaded 91 fuel price on September 11,
2018 in Queensland. This requires confidence interval computation with regards to the above
variable so that estimate about the population can be made using the sample data.
The required calculation for 95% confidence interval is highlighted in the tabular
manner illustrated below.
The above table highlights that Unleaded 91 fuel price in Queensland state as on
September 11, 2018 lies in between 156.45 and 158.82 cents per litre. Considering that the
confidence level is 95% for the interval estimated above, hence there is a 5% likelihood of
average price not lying the interval estimated above.
Past research indicates that motorists tend to consider the fuel price expensive when at
a minimum one fourth of the petrol stations in the state sell the fuel for price of atleast 150
cents per litre. The average price is not relevant to these motorists.
Hypothesis test has been carried out for determining if the motorists in Queensland on
September 11, 2018 would consider the Unleaded 91 price to be expensive or not in wake of
the necessary condition highlighted above. The output for this testing is attached below.

Based on the above hypothesis test, it is correct to draw conclusion that motorists in
Queensland on September 11, 2018 would consider the Unleaded 91 fuel prices as expensive.
This is because more than one fourth of the petrol stations in the state would be charging
atleast 150 cents per litre.