Question

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 0.10 significance level, is it reasonable to conclude the mean wedding cost is less than $30,000 as advertised? 29.5 29.9 30.1 28.9 29.6 28.7 28.7 29.9 Picture Click here for the Excel Data File

State the null hypothesis and the alternate hypothesis. Use a 0.10 level of significance. (Enter your answers in thousands of dollars.)

State the decision rule for 0.10 significance level. (Negative amount should be indicated by a minus sign. Round your answer to 3 decimal places.)

Compute the value of the test statistic. (Negative amount should be indicated by a minus sign. Round your answer to 3 decimal places.)

What is the conclusion regarding the null hypothesis?

Answer 1

Conclusion : Reject H0.