MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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**Problem 5**

For 2019, the mean fare to fly from Los Angeles to Miami was $250 on Aero Lindvallia. In December 2021, nine flights were randomly surveyed, resulting in the following ticket price data being recorded:

- $321
- $286
- $310
- $250
- $270
- $280
- $299
- $275
- $281

*The numbers above can be copied and pasted directly into Microsoft Excel®.*

**Questions:**

a. What test would you use to determine if the ticket prices had gone up or down? Is it a one-tailed or two-tailed test? Explain.

b. Calculate the necessary statistics to perform that test.

c. Using the 6-step hypothesis testing procedure, perform the test that you described above. Use a level of significance of 0.01. Comment on each step of the 6-step hypothesis testing procedure; especially explain why a t-distribution must be used.

d. Compute the p-value. Would the results of the hypothesis test change if the level of significance was 0.05?
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Transcribed Image Text:**Problem 5** For 2019, the mean fare to fly from Los Angeles to Miami was $250 on Aero Lindvallia. In December 2021, nine flights were randomly surveyed, resulting in the following ticket price data being recorded: - $321 - $286 - $310 - $250 - $270 - $280 - $299 - $275 - $281 *The numbers above can be copied and pasted directly into Microsoft Excel®.* **Questions:** a. What test would you use to determine if the ticket prices had gone up or down? Is it a one-tailed or two-tailed test? Explain. b. Calculate the necessary statistics to perform that test. c. Using the 6-step hypothesis testing procedure, perform the test that you described above. Use a level of significance of 0.01. Comment on each step of the 6-step hypothesis testing procedure; especially explain why a t-distribution must be used. d. Compute the p-value. Would the results of the hypothesis test change if the level of significance was 0.05?
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