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**Problem 5** For 2019, the mean fare to fly from Los Angeles to Miami was $250 on Aero Lindvallia. In December 2021, nine flights were randomly surveyed, resulting in the following ticket price data being recorded: - $321 - $286 - $310 - $250 - $270 - $280 - $299 - $275 - $281 *The numbers above can be copied and pasted directly into Microsoft Excel®.* **Questions:** 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?

**Problem 5** For 2019, the mean fare to fly from Los Angeles to Miami was $250 on Aero Lindvallia. In December 2021, nine flights were randomly surveyed, resulting in the following ticket price data being recorded: - $321 - $286 - $310 - $250 - $270 - $280 - $299 - $275 - $281 *The numbers above can be copied and pasted directly into Microsoft Excel®.* **Questions:** 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?

MATLAB: An Introduction with Applications
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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**Problem 5** For 2019, the mean fare to fly from Los Angeles to Miami was $250 on Aero Lindvallia. In December 2021, nine flights were randomly surveyed, resulting in the following ticket price data being recorded: - $321 - $286 - $310 - $250 - $270 - $280 - $299 - $275 - $281 *The numbers above can be copied and pasted directly into Microsoft Excel®.* **Questions:** 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?
Transcribed Image Text:**Problem 5** For 2019, the mean fare to fly from Los Angeles to Miami was $250 on Aero Lindvallia. In December 2021, nine flights were randomly surveyed, resulting in the following ticket price data being recorded: - $321 - $286 - $310 - $250 - $270 - $280 - $299 - $275 - $281 *The numbers above can be copied and pasted directly into Microsoft Excel®.* **Questions:** 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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