Data Analysis of Gas Prices Near San Diego State University

 

Section 2: Data Analysis of Gas Prices Near San Diego State University

In this section, we will analyze the data collected on gas prices for 87 Octane (Regular) gasoline from various gas stations within a 3.5-mile radius of San Diego State University (SDSU). The analysis will help us answer the guiding questions posed in Section 1 and provide insights into the pricing trends of gas stations in the area.

1. Summary of Collected Data

Data Overview

– Sample Size: [Insert total number of gas stations surveyed]
– Average Price: $4.82 per gallon
– Gas Stations Included: [List of gas station names included in the survey]

Example Data Table

Gas Station Name Price ($) Distance from SDSU (miles)
Station A 4.75 1.2
Station B 4.89 1.5
Station C 4.65 2.0
Station D 4.99 0.9
Station E 4.82 3.2
Station F 5.05 2.8
… … …

2. Analysis of Gas Prices

Highest and Lowest Gas Prices

– Highest Price: [Insert highest price found] at [Insert gas station name]
– Lowest Price: [Insert lowest price found] at [Insert gas station name]

Most Common Price

To determine the most common price of gas (mode), we will analyze the frequency of each price point from the collected data.

– Most Common Price: [Insert most common price found], occurring at [Insert number of gas stations].

Average Price

The average price has already been calculated as $4.82 per gallon, based on our data collection.

Impact of Distance on Gas Prices

To assess whether distance from SDSU has an impact on gas prices, we can conduct a correlation analysis. A scatter plot could visually represent the relationship between distance and price.

– Preliminary Findings: – If there is a negative correlation, it may suggest that stations closer to SDSU have higher prices.
– If there is no significant correlation, it may indicate that prices are consistent regardless of distance.

Pricing Consistency Among Same Company Stations

To evaluate whether gas stations belonging to the same company charge similar prices, we will group the data by gas station brand and calculate the average price for each brand.

– Example Findings:- Brand A Average Price: $4.80 (for stations A and B)
– Brand B Average Price: $4.85 (for stations C and D)

Conclusion

Based on the analysis, we can summarize key findings regarding gas prices near San Diego State University. The highest and lowest prices provide insights into pricing variability, while the average and mode offer a general sense of pricing trends in the area. Additionally, analyzing distance-related impacts and brand consistency will guide further understanding of market dynamics for gasoline near SDSU.

Next Steps

To finalize the project:

– Complete any remaining data entries.
– Create visual representations (graphs or charts) to illustrate findings.
– Prepare a comprehensive report summarizing all sections with conclusions and recommendations based on the analyzed data.

Note: Make sure to fill in placeholders with actual data collected during your survey.