With the ups and downs in the economy since 2008, many discount airline fares are available if a customer knows how to obtain the discount. Many travelers complain that they get a different price every time they call. The American Consumer Institute recently priced tickets between Spokane, Washington, and St. Louis, Missouri. The passenger was to fly coach class round- trip, staying seven days. Calls were made directly to airlines and to travel agents with the following results. Note that the data reflect round-trip airfare.
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$229.00
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$345.00
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$599.00
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$229.00
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$429.00
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$605.00
|
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$339.00
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$339.00
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$229.00
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$279.00
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$344.00
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$407.00
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a. Compute the mean quoted airfare.
b. Compute the variance and standard deviation in airfares quoted. Treat the data as a sample.