Problem # 2 Cheap airline and Discount airline fly around the U.S. from their Hub in Sanford Florida. The following data are from matched samples of two-way ticket price of 10 cities where these two companies fly. Cheap Airline Discount Airline $400 City Panama City, Florida $380 $400 $350 Reno, Nevada $430 Los Angeles, California Syracuse, New York Seattle, Washington Miami, Florida $340 $240 $230 $230 $330 $270 $290 San Antonio, Texas $230 $240 Chicago, Illinois Atlanta, Georgia Minneapolis, Minnesota $210 $220 $100 $130 $130 $150 Consider the following hypothesis test Ho:Ha =0 Conduct a hypothesis test using alpha = 0.01. What is your conclusion? Which method are you using (Show Steps)? Please explain in detai
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
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