Computing the value of test statistic and P-value as well interpret the result.
In the year 2003 the mean fare to fly from North Carolina, Charlotte, to Washington, Seattle, on a discount ticket was $267. A arbitrary sample of round-trip discount fares on this route last month gives:
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$321.00
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$286.00
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$290.00
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$330.00
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$310.00
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$250
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$270
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$280
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$299
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$265
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$291
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$275
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$281
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At the .01 consequence level can we conclude that the mean fare has increased?
What is the p-value?