Show all of your work Send back in the assignment link only! Do NOT email it bac
ID: 3155607 • Letter: S
Question
Show all of your work Send back in the assignment link only! Do NOT email it back to me in the message/email area. It will not be graded unless it is in the proper place. You can scan it to me in that area, take photo from your phone, send as an attachment but get it back before the due date Number all 5 steps. Make sure you work is neat and easy to find answers. 5 For a recent year, the mean fare to fly from Charlotte, North Carolina, to Seattle, Washington, on a discount ticket was $267. A random sample of round-trip discount fares on this route last month At the 01 significance level, can we conclude that the mean fare has increased? Write the null and alternative hypothesis What is the significance level? Solve for z value Write the decision rule Accept or Reject Be Very Specific what you plan to do and whyExplanation / Answer
a)
Formulating the null and alternative hypotheses,
Ho: u <= 267
Ha: u > 267 [ANSWER]
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b)
As given,
alpha = 0.01 [ANSWER]
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c)
As we can see, this is a right tailed test.
Getting the test statistic, as
X = sample mean = 288.3076923
uo = hypothesized mean = 267
n = sample size = 13
s = standard deviation = 22.45879418
Thus, z = (X - uo) * sqrt(n) / s = 3.420752538 [ANSWER, Z VALUE]
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d)
Thus, getting the critical z, as alpha = 0.01 ,
Thus, by table/technology,
zcrit = + 2.326347874
Hence, rejec Ho when z > 2.326. [ANSWER]
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e)
As z > 2.326, we reject Ho.
There is significant evidence that the mean fare has increased at 0.01 level. [CONCLUSION]