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 flights with their domestic airfares shown for both years. Do not round intermediate calculations.
a. Formulate the hypotheses and test for a significant increase in the mean domestic airfare for business travel for the one-year period.
What is the -value?
-value is - Select your answer -lower than 0.005between 0.005 and 0.01between 0.01 and 0.025between 0.025 and 0.05between 0.05 and 0.10between 0.10 and 0.20greater than 0.20Item 5 Using a level of significance, what is your conclusion? We - Select your answer -can concludecannot concludeItem 6 that there has been a significance increase in business travel airfares over the one-year period. b. What is the sample mean domestic airfare for business travel for each year?
c. What is the percentage change in the airfare for the one-year period? % (to 2 decimals)
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