You may need to use the appropriate technology to answer this question. A travel association reported the domestic airfare (in dollars) 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. CurrentYear PreviousYear 345 315 526 451 420 474 216 206 285 263 405 432 635 585 710 650 605 545 517 547 570 496 610 580 (a) Formulate the hypotheses and test for a significant increase in the mean domestic airfare for business travel for the one-year period. H0: μd = 0 Ha: μd ≠ 0 H0: μd < 0 Ha: μd = 0 H0: μd ≠ 0 Ha: μd = 0 H0: μd ≤ 0 Ha: μd > 0 H0: μd ≥ 0 Ha: μd < 0 Calculate the test statistic. (Use current year airfare − previous year airfare. Round your answer to three decimal places.) 2 Calculate the p-value. (Round your answer to four decimal places.) p-value = 3 Using a 0.05 level of significance, what is your conclusion? Do not reject H0. We cannot conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. Reject H0. We cannot conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. Do not reject H0. We can conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. Reject H0. We can conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. (b) What is the sample mean domestic airfare (in dollars) for business travel for each year? current $5 previous $6 (c) What is the percentage change in mean airfare for the one-year period? (Round your answer to one decimal place.) 7 %
You may need to use the appropriate technology to answer this question. A travel association reported the domestic airfare (in dollars) 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. CurrentYear PreviousYear 345 315 526 451 420 474 216 206 285 263 405 432 635 585 710 650 605 545 517 547 570 496 610 580 (a) Formulate the hypotheses and test for a significant increase in the mean domestic airfare for business travel for the one-year period. H0: μd = 0 Ha: μd ≠ 0 H0: μd < 0 Ha: μd = 0 H0: μd ≠ 0 Ha: μd = 0 H0: μd ≤ 0 Ha: μd > 0 H0: μd ≥ 0 Ha: μd < 0 Calculate the test statistic. (Use current year airfare − previous year airfare. Round your answer to three decimal places.) 2 Calculate the p-value. (Round your answer to four decimal places.) p-value = 3 Using a 0.05 level of significance, what is your conclusion? Do not reject H0. We cannot conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. Reject H0. We cannot conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. Do not reject H0. We can conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. Reject H0. We can conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. (b) What is the sample mean domestic airfare (in dollars) for business travel for each year? current $5 previous $6 (c) What is the percentage change in mean airfare for the one-year period? (Round your answer to one decimal place.) 7 %
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You may need to use the appropriate technology to answer this question.
A travel association reported the domestic airfare (in dollars) 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.
| Current Year |
Previous Year |
|---|---|
| 345 | 315 |
| 526 | 451 |
| 420 | 474 |
| 216 | 206 |
| 285 | 263 |
| 405 | 432 |
| 635 | 585 |
| 710 | 650 |
| 605 | 545 |
| 517 | 547 |
| 570 | 496 |
| 610 | 580 |
(a)
Formulate the hypotheses and test for a significant increase in the mean domestic airfare for business travel for the one-year period.
H0: μd = 0
Ha: μd ≠ 0
H0: μd < 0
Ha: μd = 0
H0: μd ≠ 0
Ha: μd = 0
H0: μd ≤ 0
Ha: μd > 0
H0: μd ≥ 0
Ha: μd < 0
Calculate the test statistic. (Use current year airfare − previous year airfare. Round your answer to three decimal places.)
2
Calculate the p-value. (Round your answer to four decimal places.)
p-value = 3
Using a 0.05 level of significance, what is your conclusion?
Do not reject H0. We cannot conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. Reject H0. We cannot conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. Do not reject H0. We can conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. Reject H0. We can conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period.
(b)
What is the sample mean domestic airfare (in dollars) for business travel for each year?
current $5 previous $6
(c)
What is the percentage change in mean airfare for the one-year period? (Round your answer to one decimal place.)
7 %
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