Compute the mean quoted airfare

Reference no: EM13983039

With the ups and downs in the economy since 2008, many discount airline fares are available if a customer knows how to obtain the discount. Many travelers complain that they get a different price every time they call. The American Consumer Institute recently priced tickets between Spokane, Washington, and St. Louis, Missouri. The passenger was to fly coach class round- trip, staying seven days. Calls were made directly to airlines and to travel agents with the following results. Note that the data reflect round-trip airfare.

$229.00	$345.00	$599.00	$229.00	$429.00	$605.00
$339.00	$339.00	$229.00	$279.00	$344.00	$407.00

a. Compute the mean quoted airfare.

b. Compute the variance and standard deviation in airfares quoted. Treat the data as a sample.

Reference no: EM13983039

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