An airline claims that the proportion of no-shows for passengers who booked on its flights is less than 0.06. In a random sample
of 380 reservations, 19 were no-shows. A hypothesis test is to be performed to test the airline's claim that the proportion of no-shows on its flights is less than 0.06. Calculate the test statistic associated with this sample. An airline claims that the proportion of no-shows for passengers who booked on its flights is less than 0.06. In a random sample of 380 reservations, 19 were no-shows. A hypothesis test is to be performed to test the airline's claim that the proportion of no-shows on its flights is less than 0.06. Calculate the test statistic associated with this sample.
A reduction of 15% per year means 100-15=85% reducing factor. 1st year: 0.85×18000=$15300. 2nd year: 0.85×15300=$13005. 3rd year: 0.85×13005=$11054.25. So after 3 years the value of the car is $11054.25 or $11054 to the nearest dollar.