Answered: One-Way Airfares The average one-way…

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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Question

One-Way Airfares The average one-way airfare from Pittsburgh to Washington D.C. is $236. A random sample of 21 one-way fares during a particular month had a mean of $214 with a standard deviation of $43. At a=0.02, is there sufficient evidence to conclude a difference from the stated mean?

Part 1. State the hypotheses and identify the claim with the correct hypothesis.

Part 2. State the hypotheses and identify the claim with the correct hypothesis.

Part 3. Compute the test value. Always round score values to two decimal places.

Part 4. Find the -value. Round the answer to four decimal places.

Part 5. Reject or not to reject the null hypothesis.

Part 6. Use the sample statistics to construct a 99% confidence interval for the true mean one-way airfare from Pittsburgh to Washington, D.C. Round your answers to two decimal places.

Part 7. Do they support or contradict one another?

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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