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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?

Statistics and Probability, Statistics

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

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