Computing the value of test statistic and p-value as well, Ask an Expert

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Computing the value of test statistic and P-value as well interpret the result.

In the year 2003 the mean fare to fly from North Carolina, Charlotte, to Washington, Seattle, on a discount ticket was $267. A arbitrary sample of round-trip discount fares on this route last month gives:

$321.00	$286.00	$290.00	$330.00	$310.00	$250	$270	$280	$299	$265
$291	$275	$281

At the .01 consequence level can we conclude that the mean fare has increased?
What is the p-value?

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M923459

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