Textbook example 5. For 2019, the mean fare to fly from Los Angeles to Miami was $275 on Aero Lindvallia. In September 2020, thirteen flights were randomly surveyed resulting in the following ticket price data being recorded:| $321 | $286 | $290 | $330 | $310 | $250 | $270 ||------|------|------|------|------|------|------|| $280 | $299 | $265 | $291 | $275 | $281 | |a. What test would you use to determine if the ticket prices had gone up or down? Is it a one-tailed or two-tailed test? Explain.b. Calculate the necessary statistics to perform that test.c. Using the 6-step hypothesis testing procedure, perform the test that you described above. Use a level of significance of 0.01. Comment on each step of the 6-step hypothesis testing procedure; especially explain why a t-distribution must be used.d. Compute the p-value. Would the results of the hypothesis test change if the level of significance was 0.05?

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Description: Textbook example 5. For 2019, the mean fare to fly from Los Angeles to Miami was $275 on Aero Lindvallia. In September 2020, thirteen flights were randomly surveyed resulting in the following ticket price data being recorded:| $321 | $286 | $290 | $3

Note:" Since you have posted a question with many sub-parts. we will solve the first three sub-parts for you. To get the remaining sub-parts solved, please repost the complete question and mention the sub-parts to be solved." Given: The mean fare to fly from Los Angeles to Miami on Aero Lindvallia was $275 (μ0). Let n denote the number of flights that were surveyed; that is; n=13. (a) The test that will be determine if the tickets prices has gone up or down is " T test". The test will be two tailed as the alternate hypothesis that will be formed is : H1: μ≠μ0 ( the hypothesis that the mean fare of fly has gone up or down) (b) The necessary statistics are: Let x¯ represents the sample average of ticket price; that is calculated as: x¯=Sum of all ticket pricesNo of tickets =321+286+290+...+28113 =288.30~288 Let s represents the sample standard deviation of ticket price; that is calculated as : s2=∑(Xi-X¯)2n-1 =(321-288)2+(286-288)2+...+(281-288)212s =504.5 =22.46 Therefore, the value of x¯=288 , and s=22.46.(c) The appropriate test for the hypothesis will be t test as the population standard deviation is unknown and the number of flights that were surveyed was less than 30. 6 steps hypothesis: 1) The hypothesis that can be formed are: Null hypothesis (H0): μ=275 Alternate hypothesis (Ha): μ≠275 2) The level of significance α=0.01. 3)The value of test statistics is given as: t=x¯-μsn =288-27522.4613 =2.08 Hence, the calculated value of test statistics is given as 2.08. 4) The tabulated value/ critical value of two tailed t test at 0.01 level of significance and at (13-1)=12 degrees of freedom is ±3.0545. 5) Decision: Since the calculated value (2.08) is less than the critical value (3.0545), so the decision is fail to reject the null hypothesis. 6) Interpretation: In conclusion there is no sufficient evidence to conclude that the ticket prices had gone up or down from the $275; that is; the mean fare of ticked prices does not change.

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5. For 2019, the mean fare to fly from Los Angeles to Miami was $275 on Aero Lindvallia. In September 2020, thirteen flights were randomly surveyed resulting in the following ticket price data being recorded: $ 321 $ 286 $ 299 $ 290 $ 310 $ 250 $ 270 $ 330 $ 291 2$ 280 $ 265 $ 275 $ 281 What test would you use to determine if the ticket prices had gone up or down? Is it a one-tailed or two-tailed test? Explain. а. b. Calculate the necessary statistics to perform that test. Using the 6-step hypothesis testing procedure, perform the test that you described above. Use a level с. of significance of 0.01. Comment on each step of the 6-step hypothesis testing procedure; especially explain why a t-distribution must be used. d. Compute the p-value. Would the results of the hypothesis test change if the level of significance was 0.05?

5. For 2019, the mean fare to fly from Los Angeles to Miami was $275 on Aero Lindvallia. In September 2020, thirteen flights were randomly surveyed resulting in the following ticket price data being recorded: $ 321 $ 286 $ 299 $ 290 $ 310 $ 250 $ 270 $ 330 $ 291 2$ 280 $ 265 $ 275 $ 281 What test would you use to determine if the ticket prices had gone up or down? Is it a one-tailed or two-tailed test? Explain. а. b. Calculate the necessary statistics to perform that test. Using the 6-step hypothesis testing procedure, perform the test that you described above. Use a level с. of significance of 0.01. Comment on each step of the 6-step hypothesis testing procedure; especially explain why a t-distribution must be used. d. Compute the p-value. Would the results of the hypothesis test change if the level of significance was 0.05?

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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5. For 2019, the mean fare to fly from Los Angeles to Miami was $275 on Aero Lindvallia. In September 2020, thirteen flights were randomly surveyed resulting in the following ticket price data being recorded:

| $321 | $286 | $290 | $330 | $310 | $250 | $270 |
|------|------|------|------|------|------|------|
| $280 | $299 | $265 | $291 | $275 | $281 | |

a. What test would you use to determine if the ticket prices had gone up or down? Is it a one-tailed or two-tailed test? Explain.

b. Calculate the necessary statistics to perform that test.

c. Using the 6-step hypothesis testing procedure, perform the test that you described above. Use a level of significance of 0.01. Comment on each step of the 6-step hypothesis testing procedure; especially explain why a t-distribution must be used.

d. Compute the p-value. Would the results of the hypothesis test change if the level of significance was 0.05?

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