The number of "destination weddings" has skyrocketed in recent years. for example, many couples are opting to have their weddings in the caribbean. a caribbean vacation resort recently advertised in bride magazine that the cost of a caribbean wedding was less than $30,000. listed below is a total cost in $000 for a sample of 8 caribbean weddings. at the 0.05 significance level, is it reasonable to conclude the mean wedding cost is less than $30,000 as advertised? 29.128.528.829.429.829.830.130.6

We conclude that the mean wedding cost is less than $30,000 as advertised.

Step-by-step explanation:

We are given the following data set:(in thousands)

29100, 28500, 28800, 29400, 29800, 29800, 30100, 30600

Formula:

where are data points, is the mean and n is the number of observations.  

Sum of squares of differences = 3408750

Population mean, μ = $30,000

Sample mean, = $29512.5

Sample size, n = 8

Alpha, α = 0.05

Sample standard deviation, s = $ 697.82

First, we design the null and the alternate hypothesis

We use one-tailed t test to perform this hypothesis.

Formula:

Putting all the values, we have

Now,

Since,                  

We fail to accept the null hypothesis and reject it.

We conclude that the mean wedding cost is less than $30,000 as advertised.

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step-by-step explanation: