Question: For a recent year, the mean fare to fly from Charlotte, North Carolina, to Chicago, Illinois, on a discount ticket was $267. A random sample

For a recent year, the mean fare to fly from Charlotte, North Carolina, to Chicago, Illinois, on a discount ticket was $267. A random sample of 13 round-trip discount fares on this route last month shows:

$321 $286 $290 $330 $310 $250 $270 $280 $299 $265 $291 $275 $281


At the .01 significance level, can we conclude that the mean fare has increased? What is the p-value?

$321 $286 $290 $330 $310 $250 $270 $280 $299 $265 $291 $275 $281

Step by Step Solution

3.41 Rating (170 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

H o 267 H 1 267 Reject H o ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Business Statistics Questions!