Travelocity Would Like to Test If the Average Roundtrip Airfare

question 48

Multiple Choice

Travelocity would like to test if the average roundtrip airfare between New York and London is less than $1,400. The correct hypothesis statement for this test would be _.

• A)H₀: µ < $1,400; H₁: µ c $1,400
• B)H₀: µ × $1,400; H₁: µ = $1,400
• C)H₀: µ c $1,400; H₁: µ < $1,400
• D)H₀: µ = $1,400; H₁: µ × $1,400

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Definitions:

Officer

An individual appointed by a company's board of directors who is charged with managing the day-to-day operations of the company.

Incorporation Process

The series of legal steps taken to form a corporate entity or company which is recognized by law as a separate legal entity from its owners.

Majority Vote

A voting requirement where more than half of the votes cast by individuals entitled to vote are needed to make a decision or pass a resolution.

Shareholders

Individuals or entities that own shares in a corporation, giving them the right to vote on corporate matters and receive dividends.