(DOF = 17) 13. FedEx and United Parcel Service (UPS) are the world's two leading cargo carriers by vol-ume and revenue (The Wall Street Journal, January 27, 2004). According to the AirportsCouncil International, the Memphis International Airport (FedEx) and the Louisville Inter-national Airport (UPS) are 2 of the 10 largest cargo airports in the world. The following ran-dom samples show the tons of cargo per day handled by these airports. Data are in thousandsof tons.Memphis10.05.87.512.19.115.19.18.810.58.36.09.3Louisville4.72.24.23.35.57.05.04.12.63.4Compute the sample mean and sample standard deviation for each airport.b. What is the point estimate of the difference between the two population means? In-terpret this value in terms of the higher-volume airport and a comparison of the vol-ume difference between the two airports.c. Develop a 95% confidence interval of the difference between the daily populationmeans for the two airports.а.с.

These can be found using statistical formulas. Procedure is mentioned step by step as follows:

13. FedEx and United Parcel Service (UPS) are the world's two leading cargo carriers by vol- ume and revenue (The Wall Street Journal, January 27, 2004). According to the Airports Council International, the Memphis International Airport (FedEx) and the Louisville Inter- national Airport (UPS) are 2 of the 10 largest cargo airports in the world. The following ran- dom samples show the tons of cargo per day handled by these airports. Data are in thousands of tons. Memphis 9.1 15.1 9.1 8.8 6.0 7.5 12.1 10.0 10.5 8.3 5.8 9.3 Louisville 3.3 3.4 4.7 5.0 4.2 2.6 5.5 2.2 4.1 7.0 Compute the sample mean and sample standard deviation for each airport. b. What is the point estimate of the difference between the two population means? In- terpret this value in terms of the higher-volume airport and a comparison of the vol- ume difference between the two airports. Develop a 95% confidence interval of the difference between the daily population а. means for the two airports

13. FedEx and United Parcel Service (UPS) are the world's two leading cargo carriers by vol- ume and revenue (The Wall Street Journal, January 27, 2004). According to the Airports Council International, the Memphis International Airport (FedEx) and the Louisville Inter- national Airport (UPS) are 2 of the 10 largest cargo airports in the world. The following ran- dom samples show the tons of cargo per day handled by these airports. Data are in thousands of tons. Memphis 9.1 15.1 9.1 8.8 6.0 7.5 12.1 10.0 10.5 8.3 5.8 9.3 Louisville 3.3 3.4 4.7 5.0 4.2 2.6 5.5 2.2 4.1 7.0 Compute the sample mean and sample standard deviation for each airport. b. What is the point estimate of the difference between the two population means? In- terpret this value in terms of the higher-volume airport and a comparison of the vol- ume difference between the two airports. Develop a 95% confidence interval of the difference between the daily population а. means for the two airports

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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