The Global Business Travel Association reported the domestic airfare for business travel for the current year and the previous year. Below is a sample of 12 flights with their domestic airfares shown for both years. Do not round intermediate calculations. Current Year Previous Year Current Year Previous Year 468 231 285 216 342 282 699 498 552 360 675 255 252 192 702 222 396 375 477 381 234 174 621 357 What is the p-value? p-value (to 3 decimals) Degrees of freedom b. What is the sample mean domestic airfare for business travel for each year? Current Year $ (to 2 decimals) Previous Year $ (to 2 decimals) c. What is the percentage change in the airfare for the one-year period? % (to 2 decimals)
The Global Business Travel Association reported the domestic airfare for business travel for the current year and the previous year. Below is a sample of 12 flights with their domestic airfares shown for both years. Do not round intermediate calculations. Current Year Previous Year Current Year Previous Year 468 231 285 216 342 282 699 498 552 360 675 255 252 192 702 222 396 375 477 381 234 174 621 357 What is the p-value? p-value (to 3 decimals) Degrees of freedom b. What is the sample mean domestic airfare for business travel for each year? Current Year $ (to 2 decimals) Previous Year $ (to 2 decimals) c. What is the percentage change in the airfare for the one-year period? % (to 2 decimals)
The Global Business Travel Association reported the domestic airfare for business travel for the current year and the previous year. Below is a sample of 12 flights with their domestic airfares shown for both years. Do not round intermediate calculations. Current Year Previous Year Current Year Previous Year 468 231 285 216 342 282 699 498 552 360 675 255 252 192 702 222 396 375 477 381 234 174 621 357 What is the p-value? p-value (to 3 decimals) Degrees of freedom b. What is the sample mean domestic airfare for business travel for each year? Current Year $ (to 2 decimals) Previous Year $ (to 2 decimals) c. What is the percentage change in the airfare for the one-year period? % (to 2 decimals)
The Global Business Travel Association reported the domestic airfare for business travel for the current year and the previous year. Below is a sample of 12 flights with their domestic airfares shown for both years. Do not round intermediate calculations.
Current Year
Previous Year
Current Year
Previous Year
468
231
285
216
342
282
699
498
552
360
675
255
252
192
702
222
396
375
477
381
234
174
621
357
What is the p-value?
p-value
(to 3 decimals)
Degrees of freedom
b. What is the sample mean domestic airfare for business travel for each year?
Current Year
$ (to 2 decimals)
Previous Year
$ (to 2 decimals)
c. What is the percentage change in the airfare for the one-year period? % (to 2 decimals)
Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...
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