Question

In: Statistics and Probability

A travel association reported the domestic airfare (in dollars) for business travel for the current year...

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
526 463
420 450
216 206
285 263
405 432
635 585
710 650
605 545
517 547
570 496
610 580

A. Calculate the test statistic. (Use current year airfare − previous year airfare. Round your answer to three decimal places.)

Calculate the p-value. (Round your answer to four decimal places.)

B. What is the sample mean domestic airfare (in dollars) for business travel for each year?

current$ previous$

C. What is the percentage change in mean airfare for the one-year period? (Round your answer to one decimal place.)

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Expert Solution

orchestra answered 3 years ago
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