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 408 489 453 213 627 336 219 261 345 258 405 531 a. Formulate the hypotheses and test for a significant increase in the mean domestic airfare for business travel for the one-year period. Ho: μα s H₂ Hd What is the p-valu Current Year Previous Year 399 411 219 294 327 357 693 768 540 279 237 312 0 0 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 (to 3 decimals) 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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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 significance increase in business travel airfares over the one-year period.
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. 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 significance increase in business travel airfares over the one-year period.
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