4.3

Calculate the test statistic. (Use current year airfare previous year airfare. Round your answer to three decimal places.) l:l Calculate the p-value. (Round your answer to four decimal places.) Using a 0.05 level of signicance, what is your conclusion? 0 Reject H0. We can conclude that there has been a signicant increase in the mean domestic airfare for business travel for the one-year period. 0 Do not reject H0. We can conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. 0 Do not reject H0. We cannot conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. 0 Reject H0. We cannot conclude that there has been a signicant increase in the mean domestic airfare for business travel for the one-year period. (b) What is the sample mean domestic airfare (in dollars) for business travel for each year? (c) What is the percentage change in mean airfare for the one-year period? (Round your answer to one decimal place.) You may need to use the appropriate technology to answer this question. A travel association reported the domestic airfare (in dollars) for business travel for the current year and the previous year. Below is a sample of 12 flighis with their domestic airfares shown for both years. Current Previous Year Year 345 315 526 451 420 462 216 206 285 275 405 432 635 585 710 650 605 545 517 547 570 496 610 580 (a) Formulate the hypotheses and test for a signicant increase in the mean domestic airfare for business travel for the one-year period. OHll'ldSO Ha:pd>0 0H0:ud=0 Ha:pd0 0H0:pd20 Ha:pd