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 12flights with their domestic airfares shown for both years. Do not round intermediate calculations.Current Year Previous Year591432603570633312513480552552a. Formulate the hypotheses and test for a significant increase in the mean domestic airfare for business travel for the one-year period.Ho: Hd - Select your answer - 0H₂H-Select your answeroWhat is the p-value?-Current Year $Previous Year $708585(to 3 decimals)t-valueDegrees of freedomP-value is - Select your answerUsing a 0.05 level of significance, what is your conclusion?We-Select your answerb. What is the sample mean domestic airfare for business travel for each year?(to 2 decimals)(to 2 decimals)Current Year Previous Year261324309297549249c. What is the percentage change in the airfare for the one-year period?% (to 2 decimals)444that there has been a significance increase in business travel airfares over the one-year period255267480693540

Paired t test is used when sample sizes are equal and samples are paired i.e. not independent. This…

Answered: The Global Business Travel Association…

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. Below is a sample of 12 flights with their domestic airfares shown for both years. Do not round intermediate calculations. Ho: d S H₂ Hd What is the p-value? Current Year Previous Year Current Year $ a. Formulate the hypotheses and test for a significant increase in the mean domestic airfare for business travel for the one-year period. 0 399 219 327 693 540 237 0 411 294 357 768 279 312 t-value Degrees of freedom p-value is greater than 0.20 Using a 0.05 level of significance, what is your conclusion? We cannot conclude b. What is the sample mean domestic airfare for business travel for each year? (to 3 decimals) Current Year Previous Year 408 453 627 219 345 405 (to 2 decimals) (to 2 decimals) 489 Previous Year $ c. What is the percentage change in the airfare for the one-year period? % (to 2 decimals) 213 336 261 258 531 that there has been a…
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