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In a particular February, the mean cost for an airline round-trip with a discount fare was $258.

5. In a particular February, the mean cost for an airline round-trip with a discount fare was $258. A random sample of 15 round-trip discount fares during the month of March provided the following data:
310 260 265 255 300 310 230 250 265 280 290 240 285 250 260
a. Using α = .05, test to see whether the mean round-trip discount fare has increase in March. What is your conclusion?
b. What is the p-value?

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Dear Student Please find... View the full answer

7744828_Statistics and Probability.xls

310
270
260 24.78479
265
Ho: µ≤258
255
H1: µ>258
300
310
the calculated z value is
1.875174
230
the critical z is 1.645
250
so we do accept the claim that March sales are higher.
265
p value...

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