The Global Business Travel Association reported the domestic airfare for business travel for the current year and the previous year. Below is a sample of 12 flights with their domestic airfares shown for both years. Do not round intermediate calculations. Current Year Previous Year Current Year Previous Year 264 303 303 513 507 567 531 339 705 426 690 336 429 489 438 333 699 591 411 207 615 675 249 441 a. Formulate the hypotheses and test for a significant increase in the mean domestic airfare for business travel for the one-year period. Select your answer - v T1 – 11 : 0H 7H – InH : "H What is the p-value? Select your answer - V0 t-yalue (to 3 decimals)

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The Global Business Travel Association reported the domestic airfare for business travel for the current year and the previous year. Below is a sample of 12
flights with their domestic airfares shown for both years. Do not round intermediate calculations.
Current Year Previous Year
Current Year Previous Year
264
303
303
513
507
567
531
339
705
426
690
336
429
489
438
333
699
591
411
207
615
675
249
441
a. Formulate the hypotheses and test for a significant increase in the mean domestic airfare for business travel for the one-year period.
Ho : H1 - H2
- Select your answer - ♥
Ha : µ1 – 42
- Select your answer - ♥0
What is the p-value?
t-value
(to 3 decimals)
Degrees of freedom
p-value is
- Select your answer -
Using a 0.05 level of significance, what is your conclusion?
We
- Select your answer -
that there has been a significance increase in business travel airfares over the one-year period.
b. What is the sample mean domestic airfare for business travel for each year?
Current Year $
(to 2 decimals)
Previous Year $
(to 2 decimals)
c. What is the percentage change in the airfare for the one-year period?
% (to 2 decimals)
Transcribed Image Text:The Global Business Travel Association reported the domestic airfare for business travel for the current year and the previous year. Below is a sample of 12 flights with their domestic airfares shown for both years. Do not round intermediate calculations. Current Year Previous Year Current Year Previous Year 264 303 303 513 507 567 531 339 705 426 690 336 429 489 438 333 699 591 411 207 615 675 249 441 a. Formulate the hypotheses and test for a significant increase in the mean domestic airfare for business travel for the one-year period. Ho : H1 - H2 - Select your answer - ♥ Ha : µ1 – 42 - Select your answer - ♥0 What is the p-value? t-value (to 3 decimals) Degrees of freedom p-value is - Select your answer - Using a 0.05 level of significance, what is your conclusion? We - Select your answer - that there has been a significance increase in business travel airfares over the one-year period. b. What is the sample mean domestic airfare for business travel for each year? Current Year $ (to 2 decimals) Previous Year $ (to 2 decimals) c. What is the percentage change in the airfare for the one-year period? % (to 2 decimals)
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