# Question: Airline ticket prices are generally optimized for the airline s benefit

Airline ticket prices are generally optimized for the airline’s benefit, not for the consumer. On July 8, 2010, at the online travel agency http://www.expedia.com, the following airfares were proposed for roundtrip travel from Seattle to Boston leaving one week later: AirTran: $721; Alaska: $787; American: $1,319; Continental: $729; Delta: $520; Frontier: $661; Jet Blue: $657; U.S. Airways: $676; and United: $510.

a. Compute the standard deviation, viewing these airfares as a sample of fares that might be obtained under similar circumstances.

b. Write a paragraph interpreting the standard deviation and discussing variation in airline fares.

a. Compute the standard deviation, viewing these airfares as a sample of fares that might be obtained under similar circumstances.

b. Write a paragraph interpreting the standard deviation and discussing variation in airline fares.

## Answer to relevant Questions

Consider the following productivity measures for a population of employees: a. Find the average productivity. b. Find and interpret the standard deviation of productivity. c. Find and interpret the coefficient of variation ...Consider the running time of movies from Table 4.3.10. a. Find the standard deviation. What does this tell you about these movie times? b. Find the range. What does this tell you about these movie times? c. How many standard ...How much variability is there in loan fees for home mortgages? Find and interpret the standard deviation, range, and coefficient of variation for the data in Table 4.3.8. All 18 people in a department have just received across-the-board pay raises of 3%. What has happened to a. The average salary for the department? b. The standard deviation of salaries? c. The range in salaries? d. The ...a. What is a random experiment? b. Why does defining a random experiment help to focus your thoughts about an uncertain situation?Post your question