According to Harrell Associates, a provider of research for airfare benchmarking, the lowest fares for airline tickets

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According to Harrell Associates, a provider of research for airfare benchmarking, the lowest fares for airline tickets between the United States and Europe occur two months before a flight€™s departure date. To test this claim, a random sample of seven flights to Europe was selected. The airfare for each was recorded six months before the flight€™s departure and again two months prior to departure. The data are as follows and can also be found in the Excel file Harrell.xlsx.
According to Harrell Associates, a provider of research for airfare

Perform a hypothesis test using α = 0.05 to determine if the airfares are less expensive two months prior to departure than they are six months prior to departure.

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Business Statistics

ISBN: 9780321925121

2nd Edition

Authors: Robert A. Donnelly

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