The Global Business Travel Association reported the domestic airfare for business travel for the current year and
Question:
The Global Business Travel Association reported the domestic airfare for business travel for the current year and the previous year (INC. Magazine, February 2012). Below is a sample of 12 flights with their domestic airfares shown for both years.
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a. Formulate the hypotheses and test for a significant increase in the mean domestic airfare for business travel for the one-year period. What is the p-value? Using a .05 level of significance, what is your conclusion?
b. What is the sample mean domestic airfare for business travel for each year?
c. What is the percentage change in the airfare for the one-yearperiod?
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a Difference Current Year Airfare Previous Year Airfare H 0 0 H a 0 ...View the full answer
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Related Book For 
Essentials Of Statistics For Business And Economics
ISBN: 9781305081598
7th Edition
Authors: David Anderson, Thomas Williams, Dennis Sweeney, Jeffrey Cam
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