Answered: Current Year Previous Year 345 315 526…

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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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?

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

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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