Current Year Previous Year 345 315 526 463 420 462 216 206 285 275 405 432 635 585 710 650 605 545 517 547 570 508 610 580
Current Year Previous Year 345 315 526 463 420 462 216 206 285 275 405 432 635 585 710 650 605 545 517 547 570 508 610 580
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter1: Fundamental Concepts Of Algebra
Section1.1: Real Numbers
Problem 49E
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The Global Business Travel Association reported the domestic airfare for business travel for the current year and the previous year (ING. Magazine, February 2012). Below is a sample of 12 flights with their domestic airfares shown for both years.
a. Formulate the hypotheses and test for a significant increase in the mean domestic airfare for business travel for the one-year period. What is the p-value Using a .05 level of significance, what is your conclusion?
b. What is the sample mean domestic airfare for business travel for each year?
c. What is the percentage change in the airfare for the one-year period?
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