Cheaper Airfares Looking for a great airfareConsumer
Chapter 9, Problem 27(choose chapter or problem)
Cheaper Airfares Looking for a great airfare?Consumer Reports8 has several hints about how tominimize your costs, which include being flexibleabout travel dates and times, checking multiple websites,and knowing when to book your flight. One suggestioninvolved checking fares at secondary airportsairportsthat might be slightly farther from yourhome, but where fares are lower. For example, theaverage of all domestic ticket prices at Los AngelesInternational Airport (LAX) was quoted as $349 comparedto an average price of $287 at nearby OntarioInternational Airport (ONT). Suppose that these estimateswere based on random samples of 1000 domestictickets at each airport and that the standard deviationof the prices at both airports was $200.a. Is there sufficient evidence to indicate that the meanticket prices differ for these two airports at the a .05 level of significance? Use the large-sample ztest.What is the p-value of this test?b. Construct a 95% confidence interval for (m1 m2).Does this interval confirm your conclusions inpart a?
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