i H:mi epsge. ECON 2012 × y M ExamA4-Chapter 13-15 C | ezta.rmheducation.com/hm.
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i H:mi epsge. ECON 2012 × y M ExamA4-Chapter 13-15 C | ezta.rmheducation.com/hm.tpx An air travel service samples domestic airline flights to explore the relationship between airfare and distance. The service would like to know if there is a correlation between airfare and flight distance. If there is a correlation, what percentage of the variation in airfare is accounted for by distance? How much does each additional mile add to the fare? The data follow Distance 636 2,395 2.176 605 403 1,258 Detroit, M Baltimore, MD Las Vegas, NV Sacramento, CA Atlanta, GA Boston, MA Chicago, IL Columbus, OH Fort Lauderdale, FL Chicago, IL Philadelphia, PA Houston, TX Houston, TX Cleveland OH Baltimore, MD Boston, MA Kansas City, MO Milwaukee, WI Portland, OR Phoenix, AZ Baltimore, MD Houston, TX Houston, TX Burbank, CA Myrtle Beach, SC Sacramento, CA Philadelphia, PA Seattle, WA Orlando, FL Miami, FL Covington, KY Minneapolis, MN Los Angeles, CA Indianapolis, IN San Francisco, CA Raleigh/Durham, NC Midland/Odessa, TX Dallas/Ft Worth, TX Columbus, OH Covington, KY San Diego, CA Phoenix, AZ Washington, DC San Jose, CA St Louis, MO Orlando, FL Seattle, WA New York, NY $281 283 258 627 2,342 299 2,521 1,050 441 1,021 264 132 752 1,333 1,460 2,350 621 121 224 215 1,894 2.465 1,891 1,028 Atlianta, GA Minneapolis, MN Atlanta, GA Kansas City, MO Baltimore, MD New Orleans, LA New York, NY West Palm Beach, FL Seattle, WA Portland, ME Washington, DC 206 290 121 133 1,489 452 969 206 (b-1) Compute the correlation of distance and fare? (Round your answer to 3 decimal places.) Distance and fare (b-2) State the decision rule for 005 significance levet: Ho t s 0: Hi >0. (Round your answer to 2 decimal places.) Reject Ho if t> (b-3) Compute the value of the test statistic. (Round your answer to 2 decimal places.) Value of the test statistic (b-4) At the 005 significance level is it reasonable to conclude that the correlation coefficient is greater than zero? (Click to select) , Ho There (Click to select) | enough evidence to conclude that a positive correlation existsExplanation / Answer
Distance and fare : 0.314
b-2.
Reject H0 if t> : 1.70
b-3.
value of test statistic: 1.7
c.
d-1.
The regression equation is Fare = 173.80522 + 0.03083 Distance.
d-2 : no of additional miles = 0.30803
d-3 : 2000 mile flight fare = 235.46
Distance and fare : 0.314
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