Question: Airfare prices were collected for a round trip from Los Angeles (LAX) to Salt Lake City (SLC). Airfare prices were also collected for a round trip from Los Angeles (LAX) to Barcelona, Spain (BCN). Airfares were obtained for the designated and nearby airports during high travel months. The passenger was to fly coach class round-trip, staying seven days. The data are contained in a file titled Airfare.
a. Calculate the mean and standard deviation for each of the flights.
b. Calculate an appropriate measure of the relative variability of these two flights.
c. A British friend of yours is currently in Barcelona and wishes to fly to Los Angeles. If the flight fares are the same but priced in English pounds, determine his mean, standard deviation, and measure of relative dispersion for that data. (Note: +1 = 0.566 GBP.)