Question: Do you know this answer and how did you work it out? Pressures of supply and demand act directly on the prices of airline tickets.

Do you know this answer and how did you work it out?

Pressures of supply and demand act directly on the prices of airline tickets. As the seats available on the plane begin to fill, airlines raise the price. If seats on a flight do not sell well, an airline may discount the tickets or even cancel the flight. Allie Henrich, a BYU-Idaho student, wanted to determine if there is a difference in the price of tickets listed 90 days before a flight compared with 14 days before the same flight. For her study she compared the prices of one-way flights from London's Heathrow Airport to various destinations in Europe. Using Travelocity.com, she recorded the lowest published fares for 90 nonstop midweek flights 90 days in advance and then found the lowest published price for the same destination again 14 days in advance. The prices (in US dollars) are given in the fileDirectFlightCosts.xlsx

(Links to an external site.)

Links to an external site.

. Notice that for some destinations, flights were not available.

What is theP-value for this test? Round your answer to 3 decimal places.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock 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 Mathematics Questions!