You may need to use the appropriate technology to answer this question. A travel association reported...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6647efaf93258_4476647efaf74486.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6647efb018bed_4476647efafeca86.jpg)
Transcribed Image Text:
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 flights with their domestic airfares shown for both years. Current Previous Year Year 345 315 526 451 420 462 216 206 285 263 405 432 635 585 710 650 605 545 517 547 570 508 610 580 (a) Formulate the hypotheses and test for a significant increase in the mean domestic airfare for business travel for the one-year period. Ho: Md 0 Ha: Md < 0 Ho: Md 0 : = 0 Ho: Md < 0 = 0 Ha Md Ho: Md 0 Ha Md > 0 Ho Md = 0 Ha: Md # 0 Calculate the test statistic. (Use current year airfare - previous year airfare. Round your answer to three decimal places.) Calculate the p-value. (Round your answer to four decimal places.) p-value = Using a 0.05 level of significance, what is your conclusion? Do not reject Ho. We can conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. Do not reject Ho. We cannot conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. Reject Ho. We cannot conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. Reject Ho. We can conclude that there has been a significant 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? current previous (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 flights with their domestic airfares shown for both years. Current Previous Year Year 345 315 526 451 420 462 216 206 285 263 405 432 635 585 710 650 605 545 517 547 570 508 610 580 (a) Formulate the hypotheses and test for a significant increase in the mean domestic airfare for business travel for the one-year period. Ho: Md 0 Ha: Md < 0 Ho: Md 0 : = 0 Ho: Md < 0 = 0 Ha Md Ho: Md 0 Ha Md > 0 Ho Md = 0 Ha: Md # 0 Calculate the test statistic. (Use current year airfare - previous year airfare. Round your answer to three decimal places.) Calculate the p-value. (Round your answer to four decimal places.) p-value = Using a 0.05 level of significance, what is your conclusion? Do not reject Ho. We can conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. Do not reject Ho. We cannot conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. Reject Ho. We cannot conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. Reject Ho. We can conclude that there has been a significant 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? current previous (c) What is the percentage change in mean airfare for the one-year period? (Round your answer to one decimal place.) %
Expert Answer:
Posted Date:
Students also viewed these mathematics questions
-
Reisen Travel offers helicopter service from suburban towns to John F. Kennedy International Airport in New York City. Each of its 10 helicopters makes between 1,000 and 2,000 round-trips per year....
-
Brodrick Company expects to produce 20,000 units for the year ending December 31. A flexible budget for 20,000 units of production reflects sales of $ 400,000; variable costs of $ 80,000; and fixed...
-
Outline the questions a service design should address.
-
_________ occurs because our unlimited wants exceed our limited resources.
-
A researcher investigating public health issues goes into a junior high school classroom and asks the students if they have ever smoked a cigarette. The students are asked to respond orally in the...
-
Analyze the GBMC workforce Capacity and Capabilities, provide strength and opportunities for improvement Analyze the GBMC workforce recruitment process, provide strength and opportunities for...
-
Problem 5: The unadjusted trial balance of Santiago Bicycle Shop on December 31, 2030 appears below: Cash Accounts Receivable Merchandise Inventory Prepaid Insurance Supplies Prepaid Rent Store...
-
What is unified-modelling language? Write your answer in 200-250 words. Satisfactory response
-
What will the true value of a product or service be equal?
-
What is the purpose of data flow diagrams? Do data flow diagrams show system logic and decision points? Explain.
-
1) Please describe two areas that you feel you could improve upon. How would you improve on each area that you described? 2) Describe a significant challenge (life, school, work, family, etc.) you...
-
Discuss how consumer behavior is defined. What are 4 major uses or applications of an understanding of consumer behaviour? How can this understanding be used to develop a marketing strategy? Listing...
-
You have just leased a car that has monthly payments of $305 for the next 4 years with the first payment due today. If the APR is 5.4 percent compounded monthly, what is the value of the payments...
-
Derive Eq. (18.33) from Eq. (18.32).
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App