Answer Happy

You may need to use the appropriate technology to answer this question. A travel association reported the domestic airfare (in dollars) for business travel for the current year and the previous year. Below is a sample of 12 flights with their domestic airfares shown for both years. Current Year 345 526 O 420 216 285 405 635 710 605 517 570 610 Ho: Hg = 0 H₂: Hd #0 Ho: Mg #0 H₂: Hd=0 Ho: Mo<0 Ho Ho: Maso H₂: Hd > 0 Previous Year Ho: Hg 20 H₂: Hg <0 303 475 450 206 263 432 (a) Formulate the hypotheses and test for a significant increase in the mean domestic airfare for business travel for the one-year period. 585 650 545 547 496 580

Calculate the test statistic. (Use current year airfare - previous year airfare. Round your answer to three decimal places.) Calculate the p-value. (Round your answer to four decimal places.) p-value= Using a 0.05 level of significance, what is your conclusion? O Reject Ho. We cannot conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. Reject Ho. We can conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. O Do not reject Ho. We can conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. Do not reject Ho. We cannot conclude that there has been a significant increase in the mean domestic airfare for business travel for the one-year period. (b) What is the sample mean domestic airfare (in dollars) for business travel for each year? current $ previous (c) What is the percentage change in mean airfare for the one-year period? (Round your answer to one decimal place.) %