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For a recent year, the mean fare to fly from Charlotte, North Carolina to Chicago Illinois,...

For a recent year, the mean fare to fly from Charlotte, North Carolina to Chicago Illinois, on a discount ticket was $290. A random sample of 12 round trip discount fares on this route last month shows: 286 290 285 291 287 275 262 289 274 276 297 262 At the 0.01 significance level, can we conclude that the mean fare has decreased? What is the p value?

1. State the Null and Alternate hypothesis:

2. State the test statistic:

3. State the Decision Rule:

4. Show the calculation:

5. What is the interpretation of the sample data?

6. Show the P value

Math   Statistics-And-Probability   
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