he domestic airfare for business travel for the current year and
the previous year was reported. A sample of 12 flights with their
domestic airfares shown for both years is contained in the Excel
Online file below. Construct a spreadsheet to answer the following
questions.
Open spreadsheet
a. Formulate the hypotheses and test for a
significant increase in the mean domestic airfare for business
travel for the one-year period.
What are the -value, degrees of freedom,
and -value
t-value
(to 4 decimals)
Degrees of freedom
p-value
(to 4 decimals)
Using a .05 level of significance, what is your conclusion?
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)
Current Year
Previous Year
648
411
249
561
528
330
459
597
711
492
354
324
594
546
279
465
552
570
384
354
549
420
246
351