Question: Airline ticket prices are generally optimized for the airlines benefit, not for the consumer. On July 8, 2010, at the online travel agency www.expedia.com, the

Airline ticket prices are generally optimized for the airline’s benefit, not for the consumer. On July 8, 2010, at the online travel agency 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.

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