Reference no: EM131651115

Question: 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 roundtrip, 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.

a. Compute the mean quoted airfare.

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