27 The results of a search to find the least expensive round-trip flights to Atl

Question

27 The results of a search to find the least expensive round-trip flights to Atlanta and Salt Lake City from 14 major U.S. cities are shown in the following table. The departure date was June 20, 2012, and the return date was June 27, 2012 Round-Trip Cost (S) Departure City Cincinnati New York Chicago Denver Los Angeles Seattle Detroit Philadelphia Washington, D.C Miami San Francisco Las Vegas Phoenix Dallas Atlanta 340.10 321.60 291.60 339.60 359.60 384.60 309.60 415.60 293.60 249.60 539.60 455.60 359.60 333.90 Salt Lake City 570.10 354.60 465.60 219.60 311.60 297.60 471.60 618.40 513.60 523.20 381.60 159.60 267.60 458.60 Compute the mean price for a round-trip flight into Atlanta and the mean price for a round-trip flight into Salt Lake City. Is Atlanta less expensive to fly into than Salt Lake City? If so, what could explain this difference? Compute the range, variance, and standard deviation for the two samples. What does this information tell you about the prices for flights into these two cities? a. b.

Explanation / Answer

(a) Mean price, Atlanta = 356.73 and Mean price, Salt Lake City = 400.95. This tells us that it is less expensive to fly into Atlanta than Salt Lake City.
Atlanta is situated close to most of the listed cities than Salt Lake City. As a result, on average, it is costlier to make a round trip to Salt Lake City from these cities than to Atlanta.


(b) Range, Atlanta = 290 and Range, Salt Lake City = 458.8.
Variance, Atlanta = 5517.41 and Variance, Salt Lake City = 18933.32.
Standard deviation, Atlanta = 74.28 and Standard deviation, Salt Lake City = 137.60.
Variation of the prices for flights into Atlanta is much lesser than the variation of the prices for flights into Salt Lake City. This means that prices for flights into Atlanta are more clustered around the corresponding mean price value than the prices for flights into Salt Lake City.

Related Questions

Navigate

• Browse (All)
• Browse 2
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.