Airfare prices were collected for a round-trip from Los Angeles (LAX) to San Francisco (SFO). Airfare prices
Question:
Airfare prices were collected for a round-trip from Los Angeles (LAX) to San Francisco (SFO). Airfare prices were also collected for a round-trip from Los Angeles
(LAX) to Barcelona, Spain (BCN). Airfares were obtained for the designated and nearby airports. The passenger was to fly coach class round-trip, staying seven days. The data are contained in a file entitled Airfare.
a. Calculate the mean and standard deviation for each of the flights.
b. Calculate an appropriate measure of the relative variability of these two flights.
c. A British friend of yours is currently in Barcelona and wishes to fly to Los Angeles. If the flight fares are the same but priced in English pounds, determine his mean, standard deviation, and measure of relative dispersion for that data. (Note: $1
0.566 GBP.)
Step by Step Answer:
Business Statistics A Decision Making Approach
ISBN: 9780136121015
8th Edition
Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry, Kent D. Smith