Question: The Energy Information Administration reported that the mean price of a gallon of regular gasoline in the city of Los Angeles in July 2010 was $3.15. A recently taken simple random sample of 50 gas stations in LA had an average price of $3.10 for a gallon of regular grade gasoline. Assume that the standard deviation of prices is $0.15. An economist is interested in determining whether the mean price is less than $3.15. Let \({{\text{H}}_{\text{0}}}:\mu =\\)3.15\,\,\,\,and\,\,\,\,\,{{\text{H}}_{\text{a}}}:\mu<\$3.15$. Test at the \[\alpha =0.05\] level of significance. Draw the normal curve, show the test statistic, the critical value and rejection region (s).State a conclusion.

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