Question

determine if there is a difference in the price of tickets listed 90 days before a flight compared with 14 days before the same flight.

FourteenDays | NinetyDays |

202.09 | 234.19 |

361.69 | 326.39 |

114.29 | 132.59 |

267.09 | 270.19 |

207.09 | 205.09 |

185.29 | 129.49 |

931.99 | 947.29 |

156.99 | 121.29 |

493.99 | 667.69 |

93.69 | 95.39 |

182.29 | 184.59 |

303.69 | |

142.69 | 156.59 |

251.79 | 194.49 |

163.29 | 129.59 |

168.29 | 139.59 |

509.69 | 318.09 |

227.59 | 1242.09 |

122.29 | 113.99 |

283.29 | 146.59 |

597.59 | 378.09 |

330.99 | 306.39 |

273.59 | 226.99 |

121.79 | 114.59 |

267.09 | 270.19 |

781.09 | 793.79 |

123.69 | 87.49 |

146.89 | 104.19 |

123.49 | 86.39 |

233.09 | 265.19 |

106.29 | 107.59 |

251.79 | 194.49 |

227.29 | 230.09 |

169.29 | 96.19 |

178.79 | 138.69 |

263.09 | |

254.29 | 192.59 |

189.29 | 106.59 |

148.29 | 106.59 |

131.29 | 109.59 |

196.39 | 183.09 |

199.39 | 123.69 |

254.29 | 143.59 |

224.79 | 199.69 |

284.69 | 184.59 |

395.39 | 326.39 |

179.29 | 118.59 |

259.39 | 263.09 |

299.19 | 210.09 |

168.29 | 170.59 |

211.09 | 164.59 |

175.29 | 150.59 |

259.39 | 183.09 |

215.29 | 129.59 |

285.79 | 194.49 |

229.29 | 164.59 |

306.79 | 230.69 |

100.59 | 72.29 |

186.79 | 188.69 |

102.19 | 148.89 |

396.19 | 298.49 |

123.29 | 106.59 |

215.29 | 136.59 |

362.79 | 250.29 |

1158.69 | 1176.99 |

171.29 | 131.59 |

453.19 | 281.09 |

349.29 | 286.99 |

151.29 | 114.59 |

140.29 | 104.59 |

312.24 | 721.34 |

284.69 | 188.59 |

309.99 | 210.89 |

172.29 | 175.59 |

365.49 | 296.19 |

285.79 | 330.49 |

770.99 | 782.09 |

334.49 | 121.59 |

255.29 | 120.59 |

149.89 | 124.19 |

284.39 | 240.09 |

261.69 | 180.59 |

310.89 | 194.89 |

350.69 | 354.69 |

251.79 | 194.49 |

205.29 | 283.59 |

174.29 | 128.59 |

338.79 | 341.89 |

160.29 | 114.59 |

What is the P-value for this test? Round your answer to 3 decimal places.

Based on the results of the test, can you say that there is a difference in the cost of airline tickets purchased 90 days in advance compared with 14 days in advance? Use a level of significance of α=0.05.

Answer #1

Hypothesis :

where is the population mean difference between the two variables .

Here we are given with the data of price of ticket of same flight on different days . So, we should conduct a paired t test .

We conduct the test using excel . The output from excel gives us the p value of the test .

Here is the snippet of the excel worksheet .

p value =0.132 ( rounded to three decimal places) .

As p value > alpha = 0.05 , the test fails to reject the null hypithesis .

In other words there is no significant difference in the price of the tickets at these given time periods.

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