Z-TEST FOR 2 VARABLES (

MONTHLY AVERAGE PETROL PRICE($/BBL) DIESEL PRICE($/BBL)

Apr-18 78.4314285714286 82.4390476190476
May-18 85.3080952380952 88.6247619047619
Jun-18 81.5185 85.4385
Jul-18 81.1190909090909 84.855
Aug-18 82.44 86.6980952380952
Sep-18 87.5285 91.8755
Oct-18 85.6678260869565 95.0113043478261
Nov-18 66.9338095238095 79.8790476190476
Dec-18 57.9572222222222 66.9972222222222
Jan-19 59.1281818181818 69.7290909090909
Feb-19 64.38 76.5522222222222
Mar-19 72.83 78.8209523809524
Apr-19 78.8328571428572 81.3452380952381
May-19 74.492380952381 80.4457142857143
Jun-19 65.8652631578948 72.8773684210526
Jul-19 71.0960869565218 76.8352173913043
Aug-19 66.576 73.165
Sep-19 69.5009523809524 75.9009523809524
Oct-19 68.1436363636364 73.9159090909091
Nov-19 71.3285714285714 72.9785714285714
Dec-19 71.2933333333333 75.9228571428571
Jan-20 69.1104761904762 73.3466666666667
Feb-20 62.567 63.4135
Mar-20 35.1922727272727 41.8722727272727
Apr-20 19.4414285714286 25.2452380952381
May-20 30.835 30.7694444444444

Jun-20 42.7909090909091 44.7177272727273

Jul-20 44.7957142857143 48.6371428571429

Aug-20 46.9685 47.4595

Sep-20 45.6645454545455 42.4418181818182
Oct-20 44.8227272727273 42.2886363636364
Nov-20 45.5161904761905 45.7890476190476

Dec-20 52.4140909090909 53.13

Jan-21 58.9145 58.353

Feb-21 66.3631578947368 66.2857894736842

Mar-21 71.5108695652174 67.5673913043479
2 VARABLES (PETROL AND DIESEL) IN DUBAI($/BBL)
Solution

1 Variance of petrol
2 Variance of petrol

Z value using data analysis tool pack

z-Test: Two Sample for Means

PETROL PRICE($/BBL)
Mean 63.2577532923401
Known Variance 274.779
Observations 36
Hypothesized Mean Difference 0
z -0.98540730494252
P(Z<=z) one-tail 0.162212021449754
z Critical one-tail 1.64485362695147
P(Z<=z) two-tail 0.324424042899509
z Critical two-tail 1.95996398454005

P two-tail=32.4% Thus its greater then 2.5%

We can not ignore null hypothesis

The Hyposthesis
Null Hypothesis
There is no significant diffrence
between
the diesle and petrol prices in
Dubai($/bbl)

There is no significant diffrence between

the diesle and petrol prices in
Dubai($/bbl)
H0
There is a significance diffeence between
diesel and petrol prices in dubai ($/bbl)
H1
Step 2:
Level of significance =0.05
Step 3:
Degrees for freedom is 70
Step 4:
Calculated z stats fr 2 tail is 0.32
is lesser than Z(critical) 1.96

Conclusion We accept null hypothesis

There is no significance diffrence between Petrol and Diesel Prices

 Formula ='var.s(array) 274.779
Formula ='var.s(array) 321.258

l pack

ans

DIESEL PRICE($/BBL)
67.2673541029414
321.258
36