Question
The Global Business Travel Association reported the domestic airfare for business travel for the current year and the previous year. Below is a sample of
The Global Business Travel Association reported the domestic airfare for business travel for the current year and the previous year. Below is a sample of 14 flights with their domestic airfares shown for both years.
Current Year 355 562 402 261 285 405 345 Previous Year 315 463 462 206 275 423 320 Current Year 655 710 605 517 570 601 555 Previous Year 558 605 554 547 508 580 531
Formulate the hypothesis and test to determine if there is significant increase in the mean domestic airfare for business travel for the one-year period. What is the p-value? Using ???? = 0.02 level of significance, what is your conclusion? Use p-value approach.
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