Compute the mean quoted airfare

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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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